The property is located at 4100 Duckhorn Dr., which is 10minutes north of Downtown, near Interstate 5 and Arco Arena. Theleaseback has an initial term of 15 years. UTI holds an option thatcan extend the lease by an additional 20 years.
UTI chief executive Kimberly McWaters says "favorableconditions" in the commercial real estate market "led us tocapitalize on the equity in our Sacramento facility." The proceedswill provide UTI with "greater flexibility and liquidity," shesays.
UTI produces automotive, diesel, collision repair, motorcycleand marine technicians. The company offers undergraduate degree,diploma and certificate programs at 10 campuses across the UnitedStates, and manufacturer-sponsored advanced programs at 18dedicated training centers.
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