Consolidated Rental Facility Coming to Newark Airport
Newark Liberty International Airport travelers are in for a big change when renting cars. There is a more convenient project in the works to consolidate the existing rental facilities. Currently, the car rentals are spread out among different locations but all will soon be a part of Terminal One. Terminal One is under construction and is slated to be completed in 2022. The $500 million dollar car rental project will see almost 3,000 public parking spaces and more than 3,000 rental cars in an effort to minimize customer travel.
This new 2.7 million square foot project will be on a 16-acre site and support ten rental car brands. It will also house 15 car washes and 54 refueling stations in addition to car service bays and waste management facilities. It also features sustainable energy initiatives with a solar powering roof, electric charging stations, LED lighting solutions and water reclamation and air quality systems.
The project is privately financed by Conrac Solutions who have leased the facility for 35 years from the Port Authority of New York and New Jersey. The debt incurred will be repaid by customers through a $6 rental surcharge. Customer will obviously see an increase in rates as a result.
“Unlike similar projects at other major U.S. airports, that can put airports at risk for availability payments, this financial structure was made possible by CS Capital and its equity partners, Related and Fengate, with sponsorship from the rent-a-car industry, and the foresight of the Port Authority to embrace an innovative approach,” stated Mark Pfeffer, Chairman, and CEO of Conrac Solutions.
Of course, skipping the car rental altogether is always the more convenient way to travel. For reliable EWR car service and affordable rates contact us to book a reservation.