Schlumberger Secures 1.1M SF Manufacturing Space In Shreveport, LA For $18.5M

Schlumberger's subsidiary has secured a 1.1 million sq-ft manufacturing space in Shreveport, LA. The property is located at 7600 Antoine Boulevard and is an industrial asset. The lease terms are for a duration of 7 years, making it a long-term commitment. The market for this property is Shreveport, which adds to the appeal of the location.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: Not mentioned
• Square Footage: 1,100,000
• Address: 7600 Antoine Boulevard
• Market: Shreveport

This significant deal was brokered by Justin Tunnell of Lee & Associates, who represented the tenant, Schlumberger. The negotiation and agreement were successful, securing a space that will support Schlumberger's advanced digital manufacturing plans. Randal Vaughn, who is the representative for Schlumberger, played a crucial role in finalizing the terms of the lease. The major investment of $18.5 million by Schlumberger into this manufacturing facility will bring substantial economic benefits to Shreveport, including the creation of nearly 600 new jobs. The former General Motors plant is expected to be operational by 2024, contributing to the growth and development of the industry in the area.