Item 2. Properties
Item 2. Properties
Except for three campus facilities which we own, our campus and administrative facilities are leased. The Company’s corporate headquarters is located at 2303 Dulles Station Blvd., Herndon, VA 20171. Our primary location in Minneapolis, also the headquarters for Capella University, is located at 225 South 6 th Street, Minneapolis, MN 55402. The headquarters and main campus of Strayer University is located at 1133 15 th Street NW, Washington, D.C. 20005. The headquarters of ANZ is located at 1 Hickson Road, The Rocks, New South Wales, 2000 in Australia.
We evaluate current utilization of our facilities and anticipated enrollment to determine facility needs. We did not open any new campuses in the U.S. during 2021. New locations in the U.S. will continue to incorporate a new smaller cost-efficient design intended to service a student body that values a brick and mortar presence, even while taking an increasing number of their courses online.
Our leases generally range from three to fifteen years with one to two renewal options for extended terms. As of December 31, 2021, the Company leased approximately 80 campus and administrative facilities in the United States consisting
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of approximately 1.1 million square feet. In 2021, we reduced our leased facility footprint by approximately 330,000 square feet, primarily due to lease terms expiring and by reducing the size of existing facilities at the time of lease renewal. The facilities that we own consist of approximately 60,000 square feet.
For more information regarding our ongoing lease commitments, see Notes to Consolidated Financial Statements below.
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