Fengate is a developer and equity investor in the high-profile ConRAC development project underway at Los Angeles International Airport (LAX). This new facility consolidates the operations of 23 rental car agencies at LAX, which are currently spread across separate properties surrounding the airport. Comprising 5.3 million sq. ft., the LAX ConRAC will be the largest ConRAC facility ever built and will be connected to LAX’s Central Terminal Area via a train system. The US$2 billion project includes all design, construction, financing, commissioning, operations and maintenance costs over the 28-year concession period and is focused on a greatly enhanced LAX passenger experience, reduced traffic congestion, reduced carbon emissions and environmental impacts, increased operational efficiencies, and improved land use.