Magpul Industries Corp. has purchased a stand-alone building in western Austin, Texas to relocate its corporate headquarters from Colorado. Executives have credited outgoing Texas Gov. Rick Perry for attracting the company to Austin after Magpul threatened to leave Colorado when more restrictive gun laws were passed there.
According to a Magpul statement, all of Magpul’s existing Colorado facilities will close during the first quarter of 2015. Magpul will open a single administrative location in Colorado to support the relocation, and this site will then serve as a regional support office.
According to the Magpul statement, this property was placed under contract in March 2014 and closed in November 2014.
“These new facilities in Texas and Wyoming immediately enhance and expand the company’s business operations,” says Duane Liptak, director of product management and marketing for Magpul Industries. “Magpul remains committed to completing the final phases of this transition without disruption to our customers and business partners.”
Magpul’s corporate HQ is now located in a 16,000-square-foot property at 8226 Bee Caves Road, Austin, TX 78746, according to a company release late Wednesday afternoon. Magpul’s Wyoming manufacturing and distribution center will open in January 2015 and is located at 7201 Commerce Circle, Cheyenne, WY 82007.
A 50,000-square-foot addition to the Wyoming site is scheduled to be completed in December 2014, and Magpul manufacturing and distribution functions will be transitioned to the 185,000-square-foot facility beginning on January 12, 2015.
A statement on the Magpul website dating back to January 2, 2014, said in part, “Magpul is moving its corporate headquarters to Texas. Three North Central Texas sites are under final consideration, and the transition to the Texas headquarters will begin as soon as the facility is selected,” the statement reads. “The Texas relocation is being accomplished with support from Governor Rick Perry and the Texas Economic Development Corporation.” The sale of the building follows almost of year of controversy in which Magpul, founded in 1999, made plans to vacate its longstanding headquarters in Erie, Colorado.
In October, Magpul notified state and local officials under the Worker Adjustment and Retraining Notification (WARN) Act that it intended to eliminate 100 jobs in Colorado, reported the Denver Business Journal.
In Austin, the Travis Central Appraisal District values the building at $2.35 million, but a recent real-estate listing indicated a sales price of just under $4 million, according to the Austin Business Journal. The actual price for the building wasn’t disclosed.
Founded in 1999, Magpul was launched to manufacture a device to aid in the manipulation of rifle magazines while reloading under stress. The company’s name comes from the original product called the Magpul.
Related in the Shooter’s Log: Magpul Moves Operations to Texas and Wyoming