PHOENIX — Universal Technical Institute (UTI), a provider of technical education training, has entered into an agreement to purchase a property in the Boston suburb of Norwood, Mass., where it plans to open a new undergraduate automotive technician training campus. The Norwood campus is expected to open in the fourth quarter of fiscal 2005.
UTI has agreed to purchase the property for approximately $12.4 million. The company expects that approximately $10 to 12 million will be spent to retrofit the existing building prior to the beginning of training at the new campus. This campus will provide approximately 170,000 square feet of classroom and lab space on a total of 24.5 acres to teach up to approximately 1,900 students.
“The development of the Norwood campus is the second step in UTI’s planned expansion into the Northeast, and follows the June 2004 opening of a campus in Exton, Pa., in the Philadelphia metropolitan area,” said Kimberly McWaters, president and CEO of Universal Technical Institute. “We are committed to opening new campuses as an integral part of our growth strategy as we work to provide increasing value to auto manufacturers, auto dealers and other automotive technician employers.”
For more information, visit: www.uticorp.com.
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