NEW ORLEANS, LA — Cypress Equities, a national real estate investment and development firm, announces the groundbreaking of a new Class-A office tower in the heart of the River District in New Orleans, Louisiana. Cypress is partnering with New Orleans-based Lauricella Land Company to develop the eight-story, 123,941-square-foot building along the banks of the Mississippi River that will serve as the headquarters for Shell’s Gulf of Mexico operations. Las Vegas-based Capro Capital, a real estate private equity firm, is providing equity for the project.
The lease agreement with Shell was announced last year, making this the first Class-A office building to be constructed in New Orleans since 1989, as well as the first major office project to be started in the River District. The building will be located at the corner of Henderson and Euterpe streets, within the 39-acre mixed-use neighborhood adjacent to the New Orleans Ernest N. Morial Convention Center.
“We are proud to kick off the first vertical development in the River District neighborhood, a cutting-edge facility designed to meet the needs of a world-class tenant like Shell,” said Chris Maguire, CEO of Cypress Equities. "This project will boost the local economy while setting a new standard for sustainable, modern office space in New Orleans."
“We are especially excited that the Shell project will set a tone of world class quality for the River District as we work with an array of new enterprises looking to locate in what will be New Orleans’ most promising real estate development since the Superdome,” said Louis Lauricella, Manager of River District Neighborhood Investors, LLC.
"We are thrilled to partner with Cypress and Lauricella in this transformative project for New Orleans," said Viney Singal, Principal of Capro Capital. "We believe this development will serve as a landmark for the city while supporting the revitalization of the River District.”
| Your local Wirtgen America dealer |
|---|
| Kirby Smith Machinery |
| Power Equipment Co |
Designed by global architecture firm Gensler, the glass curtain wall building will complement New Orleans’ blend of history and vibrant culture. The architecture incorporates elements inspired by the Mississippi River’s shipping industry, featuring faceted metal panels and a dynamic palette of bronze, metal, glass, and concrete. The lower levels of the building will include public spaces, green areas, and retail zones. The building’s sustainable design, which includes LEED certification, features expansive glass façades, a polycarbonate mesh screen for the parking podium, and a rooftop garden with views of the river and downtown. The first floor of the building features 6,407 square feet of restaurant space.
Louisiana-based Broadmoor, LLC is serving as the general contractor and New Orleans-based Integrated Logistical Support Inc. is the civil engineering firm for the project.
