This material may not be published, broadcast, written or redistributed. Share This: share on facebook share on twitter share via email print. Wyoming is making a bid to land the headquarters of the National Rifle Association. The NRA already has indicated it plans to move to Texas. Related News. Can you ID this man? Despite the bloated vacancy rate, commercial real estate broker Will Lawrence believes there could be stronger demand for the NRA's headquarters building than some of the other properties given the quality of the building and its proximity to amenities.
Lawrence is marketing a block of space spanning about 12, square feet at Pender Drive and said there has been interest from some prospects despite the challenging market conditions.
Still, Covid has space users reevaluating their space needs, and the faster play might be to take a loss on the sale of the building and leave it to the property's next owner to either lease it back up or redevelop it.
The building might also be an attractive acquisition target depending on the sale price. An investor acquiring the property below market value could afford to spend money to upgrade the building's common areas to better position it for future tenants. But the right user might see value in maintaining the underground shooting range the NRA got special permission to install when it moved in.
Please Sign In and use this article's on page print button to print this article. By Daniel J. Tuesday's decision means the NRA will not have bankruptcy protections, which it has said are needed to protect against a "barrage of litigation" the organization is facing. The NRA had requested to be reincorporated in Texas when it filed for bankruptcy, a move hailed by Texas politicians.
In a statement to CNN, the NRA said it will still "pursue establishing business operations in Texas, and the organization will continue to explore moving its headquarters there from Virginia. The decision from Judge Harlin Hale, of the Northern District of Texas, came after a monthlong trial in which NRA attorneys and officials argued that their bankruptcy case should move forward in Texas.
James' office intervened in the case and asked to dismiss the petition, saying the NRA's decision to file for bankruptcy in Texas and ask to be reincorporated there was a way to "remove the NRA from regulatory oversight. Hale agreed with James' office's argument in his ruling issued Tuesday. Read More. Hale also declined to appoint a trustee or examiner to oversee the NRA's finances. No one is above the law, not even one of the most powerful lobbying organizations in the country.
Hale declined to dismiss the case with prejudice, meaning the NRA could still decide to file a bankruptcy petition in another venue, but Hale warned that if the NRA chooses to file a new bankruptcy case, his court would immediately take up some of its concerns about "disclosure, transparency, secrecy, conflicts of interest of litigation counsel," among others, which could lead to the appointment of a trustee to oversee the organization's affairs.
Brian Mittendorf, a professor of accounting at Ohio State University who has followed the NRA's finances for several years, said the ruling has implications for the various lawsuits the NRA is facing, as well as its financial future.
After the decision was issued Tuesday, James said that her office's case against the NRA was never delayed by the bankruptcy filing and that a trial could happen in Allegations of financial misconduct.
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