Infrastructure Team Featured for its P3 Work for Los Angeles World Airports
A Nossaman Infrastructure team—led by Group Chair Patrick Harder, and including Partners Brandon Davis and Andrée Blais and Associates Frank Liu and Jayoung Jeon—was featured in the Daily Journal’s Dealmakers column. The column noted that the team advised the City of Los Angles and Los Angeles World Airports on the recent commercial close of the $2 billion Consolidated Rent-a-Car (ConRAC) facility, which is a portion of LAX's "Landside Access Modernization Program."
The article highlights that the high-profile project is "the first public-private partnership for a rent-a-car facility in the country," and notes that "Southern California has the largest rental car market in the world, and LAX is the second-largest rental car airport." Additionally, the article reports that ConRAC is "expected to feature 6,600 return parking stalls,10,000 vehicle storage spots and 1,100 rental car employee parking spaces." Lastly, the article states that the project’s facilities will "comprise about 5.3 million square feet [and] an automated people mover system is expected to connect the rental car complex to airport terminals and thereby eliminate the need for car shuttles." The project reached financial close on Dec 6, 2018.
The full article can be read here (paid subscription required).