Universal Technical Institute Signs 85,000 Sq. Ft. Office Lease in Phoenix's MAX Building

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Jones Lang LaSalle has completed an 85,000-square-foot lease commitment at the MAX at KIERLAND for Universal Technical Institute, Inc. (NYSE: UTI), a leading provider of post-secondary degrees for auto-related technicians and on the shortlist of Arizona-based public companies. The building is owned by a Trammell Crow Company/ING Clarion joint venture.

The new UTI home office will occupy two floors at the MAX, a 285,000-square-foot, six-story office building within the Kierland development, south of the Loop 101 on Scottsdale Road in Scottsdale, Ariz.  The new UTI headquarters will house approximately 425 employees. UTI is currently headquartered at 20410 N. 19th Avenue.

"The MAX at KIERLAND is a high quality facility that reflects the UTI company image. We are pleased that our extensive search for new space has resulted in an exceptional location with tremendous amenities, while achieving a value that is consistent with current commercial real estate market conditions," said Chad Freed, General Counsel and Senior Vice President Business Development for UTI.

"We are pleased to welcome UTI to MAX at KIERLAND and our growing base of national tenants and corporate headquarter companies," said Jim Mahoney, Senior Managing Director of Trammell Crow Company's Phoenix Business Unit. "We are confident that MAX at KIERLAND will provide UTI with the environment it needs as it continues to seek new business opportunities with industries that will benefit its students and enhance their business model."

Earlier this year, MAX at KIERLAND was awarded LEED® Certification by the U.S. Green Building Council, becoming one of a select few multi-tenant office buildings in Metro Phoenix to achieve such a designation.

First Vice Presidents Patrick Devine and Jerry Noble along with Senior Associate Greg Mayer with CB Richard Ellis' Phoenix office, Mahoney with Trammell Crow Company and Alexander Mitzner with ING represented the ownership in the transaction. UTI was represented by Jim Sadler and Keith Lammersen with Jones Lang LaSalle.

"UTI is a true Phoenix corporate success story," said City of Phoenix Councilwoman Peggy Neely, who represents Council District 2. "It is a local business that has grown into a national entity, and is now boosting the workforce quality in Phoenix and in markets across the U.S. We are very proud of our association and were pleased to help Jones Lang LaSalle successfully retain UTI during this competitive, multi-market bid process."

"By capitalizing on today's economic fundamentals, UTI has secured very market competitive, long-term occupancy costs and positioned itself to grow and expand according to a viable and successful model," said Jim Sadler, who as Jones Lang LaSalle's Executive Vice President and tenant representation leader in Phoenix directed the new UTI lease.

According to Sadler, these results were a group effort and included experts from UTI, Jones Lang LaSalle, the Trammell Crow/ING team and the City of Phoenix, all of who came together to answer UTI's need for real estate strategy, site selection, rigorous lease negotiations, due diligence and the coordination of an enterprise zone.

"Our northwest Phoenix community will miss UTI, but we are pleased that they are remaining in the city," said Councilwoman Thelda Williams, in whose council district UTI currently resides. "UTI's move within Phoenix allows them to grow and create new jobs. This is great news for our city's economic development and our talented workforce, as it demonstrates their continued investment in the community."

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