Lee Secures 1.1 M SF Lease for Shreveport Schlumberger Plant
Houston-based Lee & Associates represented petroleum service company Schlumberger on a 1.1 million square foot manufacturing space in Shreveport.
Lee’s Justin Tunnell helmed the effort on the lease which is on 102 acres at the Shreveport Business Park. Schlumberger plans to invest over $18.5 million into the location and expects to be operating in 2024. Schlumberger’s investment is expected to create nearly 600 new, direct jobs with an annual payroll of more than $50 million over the next three years and 749 indirect jobs in the region.
The seven-year lease with the Shreveport Business Park involves the renovation and occupation of the former General Motors plant, which has been partially vacant since 2012. Thanks to the facility’s heavy power capabilities and structural design, Schlumberger will be able to adapt and utilize the site for advanced, digital infrastructure manufacturing.
Shreveport is known as the commercial center for the three-state region (LA, ARK, TX) and supports major industries, including petroleum, natural gas and chemicals. Its location was a major benefit to the transaction.
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Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.