Dallas, TX, Feb. 04, 2025 (GLOBE NEWSWIRE) — Cypress Equities, a national real estate investment and development firm, announced the groundbreaking of a new, state-of-the-art Class A office tower in the heart of New Orleans’ River District. 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 landmark 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 1600 Convention Center Boulevard, 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.”
Designed by global architecture firm Gensler, the glass curtain wall building will complement New Orleans’ unique 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 that will serve as a premiere dining destination for visitors to the River District and adjacent convention center as well as Shell’s employees and guests.
Louisiana-based Broadmoor, LLC is serving as the general contractor and New Orleans-based Integrated Logistical Support Inc. (ILSI) is the civil engineering firm for the project.
Downloadable building renderings can be found HERE.
About Cypress Equities
Cypress Equities (Cypress) was founded in 1995 and has since established a national reputation synonymous with the premier development, operation and management of destination-class retail and mixed-use properties throughout the United States. Historically, Cypress has developed and acquired more than 20 million square feet and currently is developing and managing a portfolio primarily focused on retail and mixed-use properties. Cypress Equities offices in the U.S. are located in Dallas (headquarters), Atlanta and Fort Lauderdale. Visit www.cypressequities.com for more information.
About Lauricella Land Company
Lauricella Land Company is a fourth-generation real estate development firm, one of New Orleans’ most respected and multi-faceted. Focusing primarily on retail, Lauricella has developed and managed over 4 million square feet of commercial and mixed-use property in and around Southeast Louisiana. Along with brokerage and leasing affiliate L+A Retail, Lauricella has been involved in over $1 billion of real estate transactions. The company is based in New Orleans.
About Capro Capital
Capro Capital is a real estate private equity firm with a prime focus of partnering with top real estate operators and developers nationwide. Visit www.caprocapital.com for more information.
About River District Neighborhood Investors LLC (RDNI)
River District Neighborhood Investors is a diverse group of partners with deep local roots, all accomplished mixed-use and residential developers with local, regional, and national experience, unparalleled reputations, and strong financial results. The team was selected in 2021 by the New Orleans Ernest N. Morial Convention Center Authority to develop a mixed-use community with best-in-class sidewalks, bike paths, and green spaces. The River District will revitalize this 40+ acre tract of vacant land along the riverfront as an energetic hub of commerce, trade, culture, history, and community. For information visit www.riverdistrictnola.com.
- Shell Plaza at New Orleans’ River District
