Airport panel approves $1.13-billion upgrade at LAX
Walsh Austin Joint Venture is awarded two contracts to build new concourses and upgrade the Tom Bradley International Terminal to handle larger jets.
Although the airline industry remains in a slump, airport commissioners approved $1.13 billion in construction contracts to revitalize the primary entry and departure point for overseas travelers at Los Angeles International Airport.
In one of the most visible signs that the modernization of LAX is underway, the Los Angeles Board of Airport Commissioners awarded two contracts to the Walsh Austin Joint Venture, which will handle the reconfiguration of the Tom Bradley International.
If you own Industrial Property in an area where $1.13 Billion in construction contracts were just approved…yes that was not a typo…$1.13 billion! I say emphatically, put your investment money into that area.. provided you can patiently wait until the current economic cycle turns….right now the pessimistic news about the economy is broadcasting at full throttle and that is all anyone is hearing, a perfect time to buy.
LAX is here to stay. If you counted every major airline together with their cargo operation that has rights at LAX , you are identifying a significant center point of Globalization and its key connection to World Trade, where millions of dollars of cargo are being transported.
Before Airports became the center of transportation for Air Cargo…and excluding Ships that still carry Cargo…Railroads carried the bulk of freight. History Books tell the tale of astute Investors purchasing property all around Rail Stations…and they profited handsomely from it…They knew that purchasing property as close as possible to a Cargo Center..was where to place your Investment Real Estate Dollars. .In today’s world the Cargo Center is the Airport. The Supply of land within a reasonable distance around the world’s major airports is fixed. In general Real Estate around major Airports is a solid buy….scarcity equals value.