Item 2. Properties
ITEM 2. PROPERTIES
Campuses and Other Properties
The following sets forth certain information relating to our campuses and corporate headquarters as of September 30, 2021. Many of the leases are renewable for additional terms at our option. Our facilities are utilized consistent with management’s expectations, and we believe such facilities are suitable and adequate for currently identifiable requirements and that additional space, if needed, can be obtained on commercially reasonable terms to meet any future requirements.
Location Brand Approximate Square Footage Leased or Owned Lease Expiration Date
Campus locations:
Arizona (Avondale) (1)
UTI 283,000 Owned N/A
Arizona (Phoenix) (1)
MMI 117,000 Leased December 2022
California (Long Beach) UTI 137,000 Leased August 2030
California (Rancho Cucamonga) UTI 148,000 Leased September 2031
California (Sacramento) (2)
UTI 245,000 Leased February 2033
Florida (Miramar) (3)
UTI 83,200 Leased March 2032
Florida (Orlando) (4)
UTI 178,875 Leased August 2029 and
March 2031
Florida (Orlando) (4)
MMI 117,700 Leased August 2022
Illinois (Lisle) UTI 187,000 Leased December 2032
New Jersey (Bloomfield) UTI 102,000 Leased December 2030
North Carolina (Mooresville) (5)
NASCAR Tech 146,000 Leased October 2030
Pennsylvania (Exton) UTI 129,000 Leased October 2029
Texas (Dallas/Ft. Worth) UTI 95,000 Owned N/A
Texas (Houston) UTI 172,000 Owned N/A
Texas (Austin) (6)
UTI 107,000 Leased December 2031
Other locations:
Arizona (Phoenix) (7)
Corporate Headquarters 29,000 Leased December 2025
Arizona (Phoenix) (1)
Operational Support 47,000 Leased December 2022
(1) During fiscal 2021, we purchased our Avondale, Arizona campus for approximately $45.2 million, including closing costs and other fees, with the intention of consolidating our MMI Phoenix, Arizona campus into the same location by the end of fiscal 2022.
(2) In September 2020, we signed an amendment to the lease for our Sacramento, California campus which extended the lease through February 2033. Additionally, this amendment reduces our leased space by approximately 128,000 square feet to 117,000 square feet effective as of January 1, 2022.
(3) During fiscal 2021, we signed a lease agreement for a new campus in Miramar, Florida. We expect to take possession of the building for construction in early fiscal 2022 with plans to open the campus in the fourth quarter of fiscal 2022. Excludes approximately 20,000 square feet of mezzanine space constructed by UTI that is not subject to rent.
(4) As part of our plans to consolidate the MMI Orlando, Florida campus into the UTI Orlando, Florida campus, during fiscal 2021 we signed a new lease agreement for approximately 34,000 square feet adjacent to our current UTI Orlando campus with a term that ends in March 2031. Additionally, we amended our UTI Orlando lease agreements to extend the lease term through August 2029. In October 2021, we further amended one of the Orlando lease agreements to add an additional 9,000 square feet as of November 1, 2021. We expect to exit the current MMI Orlando campus by the end of the second quarter of fiscal 2022. The net square foot reduction as a result of the campus optimization plan is approximately 75,000 square feet.
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(5) In December 2020, we signed an amendment to the lease for our Mooresville, North Carolina campus which extended the lease through October 2030.
(6) During fiscal 2021, we signed a lease agreement for a new campus in Austin, Texas. We took possession of the building in September 2021. The Austin campus is expected to open during the second quarter of fiscal 2022.
(7) In September 2021, we listed approximately 8,500 square feet of our Corporate Headquarters for sublease. As of September 30, 2021, no sublease arrangements had been executed.