New High Finish-Flex Building Completes 38-Acre Industrial Park
Liberty Property Trust Completes Its Second Build-To-Suit For Universal Technical Institute, Inc.
ORLANDO-- Liberty Property Trust (NYSE: LRY), the real estate investment trust that owns and manages more than seven million square feet of office and industrial space in Florida, today announced that Universal Technical Institute, Inc. has moved into its new Liberty building. UTI (NYSE: UTI) is one of the nation's leading providers of technical education training for automotive, motorcycle and marine technicians.
This move marks the completion of Liberty Park at SouthCenter, a 10-building industrial park located in south Orlando. Liberty began construction earlier this year on the 46,500 square foot high-finish flex building, located at 2212 Taft Vineland Road. The one-story building features a state-of-the-art design, ample parking and high visibility from Taft Vineland Road.
This is the second build-to-suit development that Liberty has completed for UTI in the past five years. The new building is located adjacent to Liberty's original build-to-suit for UTI, a 60,000 square foot building located at 2202 Taft Vineland Road. UTI is also a tenant in Liberty's neighboring building, located at 2256 Taft Vineland Road, leasing an additional 24,500 square feet in the park.
"We value long-term relationships with our tenants," said Stephen Whitley, vice president and city manager, Liberty Property Trust. "This project is a great example of how Liberty tenants can continue to grow and expand with us."
UTI offers specialized training under the banner of several well-known brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI). The company offers hands-on educational programs and modern facilities that allow students to succeed in the dynamic automotive, motorcycle and marine service industries. UTI works closely with leading original equipment manufacturers to understand their needs for qualified service professionals, and continuously refines and expands its programs, curricula and equipment based on feedback from the industry.
"This expansion will allow us to provide valuable technicians to the dealers and aftermarket that are experiencing a shortage of qualified professionals in this geographic region," said Kimberly McWaters, president and chief executive officer of UTI.
About Liberty Park at SouthCenter
Liberty Park at SouthCenter, located just off Taft Vineland Road in Orlando, consists of 10 buildings offering 597,000 square feet of space. Liberty Park at SouthCenter is home to a number of tenants including Stihl Inc., Progressive Insurance, Breed Allied, Control Laser Corporation, Jerry Lee and Screen Works.
Liberty Park at SouthCenter is a two-phase flex/industrial development project. It was established in 1998 with 29 acres available for development in Phase One. Completed in early 2002, Phase One consists of four buildings totaling 245,000 square feet. In 2002, Liberty began developing Phase Two, which includes six buildings totaling 352,000 square feet located on 34 acres.
About Universal Technical Institute, Inc.
Universal Technical Institute, Inc., is a provider of technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. The company offers undergraduate degree, diploma and certificate programs at 10 campuses across the United States, and manufacturer-sponsored advanced programs at 20 dedicated training centers. Through its campus-based school system, Universal Technical Institute, Inc., offers specialized technical education programs under the banner of several well-known brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI), and NASCAR Technical Institute (NTI). For more information, visit www.uticorp.com.
About Liberty Property Trust
Liberty Property Trust is one of the largest commercial landlords offering office and industrial space in Orlando. The company owns, leases and manages 26 properties, providing approximately 2.6 million square feet of space in the greater Orlando region.
Liberty Property Trust (NYSE: LRY), headquartered in Malvern, Pennsylvania, is a leader in commercial real estate, serving customers in the United States and the United Kingdom, through the development, acquisition, ownership and management of superior office and industrial properties.
Liberty's 64 million square foot portfolio includes more than 700 properties which provide office, distribution and light manufacturing facilities to 2,200 tenants.
Liberty Property Trust
Margo Hunt Winans