Universal Technical Institute, a provider of transportation, skilled trades, and energy education programs, has acquired three buildings it fully occupies at its Orlando, FL campus. The purchase of the buildings, which total 154,300 square feet, as well as the 20 acres of associated land, was for $26 million.
“Given the current real estate market dynamics, and with our strong balance sheet and capital position, the opportunity to take ownership of the majority of our second largest campus was strategically and financially attractive,” said Universal Technical Institute EVP and CFO Troy Anderson. “A core part of our strategy over the last several years has been to rationalize our real estate footprint and identify opportunities like this one, to further optimize our campus footprint and cost structure.”
The campus, which opened in 2004, has over 1,300 students and offers the company’s core automotive and diesel programs, along with the motorcycle and marine technician training programs with Harley-Davidson, BMW, Honda, Yamaha, Suzuki, Mercury Marine and Volvo. The campus also has several auto and diesel Manufacturer Specific Advanced Training programs including Ford, BMW and Daimler Trucks.
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