According to the Richmond Times-Dispatch, Avis Rent A Car is planning to upgrade its facility that sits on 1.5 acres to a $3 million facility on 7.053 acres at the north end of the airport next year.
The Capital Region Airport Commission approved the lease with Avis for 10 years with three, 5-year options to renew the agreement. Annual payments are scheduled with the commission at $113,671, not including annual inflation adjustments. Currently, Avis’ business at the Richmond airport provides $750,000 a year in revenue for the commission, according to the article.
The facility will have car washes, maintenance bays and fueling stations. Construction is set to begin in the summer of 2012 will completion slated for summer of 2013.
Richmond Internation’s October passenger traffic was down by 8.5% compared to October 2010.
Click here to read the full article.