Universal Technical Institute of California
W. P. Carey funds and manages carport solar installation under power purchase agreement (PPA) for existing tenant, following initial sale-leaseback
Tenant Description: Leading vocational trade school campus offering hands-on training for a variety of careers
Transaction Type: Sale-leaseback* and follow-on carport solar system with tenant PPA
Location: California
Facility Type: Educational facility
Green Features: Carport solar system
In 2025, W. P. Carey entered into an agreement with its existing tenant, Universal Technical Institute of California, Inc (UTI), to install a carport solar system—converting an existing parking area into a source of on-site power. The system became operational in 2026 and is now generating electricity for the facility.
This sustainability improvement builds on W. P. Carey’s initial sale-leaseback of the 178,000-square-foot facility in 2007.
The expected outcome:
- Immediate utility savings—with no upfront capital
- Fixed annual increases that are lower than local utility rate increases
- Alignment with tenant’s sustainability goals
The project is just one example of how W. P. Carey’s Carey Tenant Solutions® platform helps tenants reduce utility costs and advance their sustainability goals.
The expected environmental impact of the solar system:
- Solar system size: 740 kW
- Anticipated power generation: 1.2 million kWh/yr
- Anticipated carbon avoided: 246 MTCO2e/yr