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UTI Purchases $12.4M New England Campus

Phoenix-based UTI plans to house a new undergraduate automotive technician training campus on the property, company officials said. Additionally, UTI intends to invest an additional $11.9 million to retrofit the property's existing 222,000-square-foot building over the next several months.

The Norwood campus is expected to open in the fourth quarter of fiscal 2005, pending state and regulatory approval. At maturity, the campus will have approximately 1,900 students and provide approximately 170,000 square feet of classroom and lab space.

"We are very excited to have completed the property acquisition for our new Norwood facility," said Kimberly McWaters, president and chief executive of Universal Technical Institute, Inc. "We believe this campus will strengthen our presence in the Northeast market, while helping meet demand from prospective students and industry in the region."

Universal Technical Institute Inc. provides technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians.

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