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, 2022. 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/MMI 283,000 Owned N/A
Arizona (Phoenix) (1)
MMI 33,000 Leased December 2022
California (Long Beach) UTI 137,000 Leased August 2030
California (Rancho Cucamonga) UTI 148,000 Leased September 2031
California (Sacramento) UTI 117,000 Leased February 2033
Florida (Miramar) UTI 103,000 Leased March 2032
Florida (Orlando) (2)
UTI/MMI 188,000 Leased August 2029 and
April 2031
Illinois (Lisle) UTI 187,000 Owned N/A
Michigan (Canton) MIAT 125,000 Leased April 2036
New Jersey (Bloomfield) UTI 102,000 Leased December 2030
North Carolina (Mooresville) 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
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Location Brand Approximate Square Footage Leased or Owned Lease Expiration Date
Texas (Houston) UTI 172,000 Owned N/A
Texas (Houston) MIAT 54,000 Leased June 2029
Texas (Austin) UTI 107,000 Leased October 2032
Other locations:
Arizona (Phoenix) (3)
Corporate Headquarters 21,000 Leased February 2027
(1) During fiscal 2021, we purchased our Avondale, Arizona campus for approximately $45.2 million, including closing costs and other fees. During fiscal 2022, we completed the consolidation of our MMI Phoenix, Arizona campus into the Avondale, Arizona location which resulted in a reduction of approximately 164,000 leased square feet. The square footage noted for MMI Phoenix represents the remaining unoccupied space as of September 30, 2022 under the lease obligation that expires as of December 31, 2022.
(2) During fiscal 2022, we completed the consolidation of our Orlando, Florida campus into one site with 188,000 square feet. The net square footage reduction as a result of the campus optimization plan was approximately 75,000 square feet.
(3) In September 2022, we executed an amendment for our Corporate Headquarters lease which reduced the leased square footage by approximately 8,000 square feet and extended the lease term to February 2027.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.