Auto Service - Gas-Conv
TA Truck Stop 28 Year NNN Lease
1212 N 47th St, Grand Forks, ND 58203
Listing Price: $6,210,000
Investment Overview
Marcus & Millichap is pleased to present for sale this TravelCenters of America
(TA) operated by LV Petroleum, located at 1212 North 47th Street, Grand Forks,
North Dakota. Grand Forks is the 3rd most populous city in North Dakota and
lies on the eastern edge of the state. It is located approximately 74 miles from
Fargo, North Dakota and 145 miles from Winnipeg, Manitoba.
The subject property is strategically located at the crossroads of Interstate 29
and U.S. Highway 2 with a combined 31,790 vehicles per day. Within a 5-mile
radius of the property, there is 4.2 million square feet of industrial property with a
low 0.2% vacancy rate and 5.8 million square feet of retail with a 0.7% vacancy
rate. This truck stop is located only a three-minute drive from the University of
North Dakota with over 14,000 students enrolled.
The guarantor, LV Petroleum, has over 28 years remaining on the absolute triplenet
lease with 2% annual escalations including the four, 20-year rental option
periods. LV Petroleum is the largest franchise operator under the TravelCenters
of America brand name. The subject property is situated on 9.10 acres with a
16,496 square foot store. Amenities at this location include Sbarro’s, Charley
Cheesesteaks, 8 Diesel Fueling Lanes, 65 Parking spaces, 8 Private Showers, a
Driver’s Lounge, Laundry Facilities, and a CAT Scale.
LV Petroleum, the largest franchise operator within the TA system, has over 30
operating truck stops, 23 gas stations (NV/AZ) and a pipeline of 15+ additional
truck stops of both ground up builds or through acquisition and rebrand. They
operate for 19 restaurant franchisees including Sbarro, Rally’s, KFC, Einstein
Bros Bagels, Krispy Krunchy Chicken, Del Taco, Dunkin, Charley’s and Black
Bear Diner. In addition to retail operations, LV Petroleum operates a wholesale
fuel distribution company that supplies over 100 gas stations for brands such as
76, Philips and Conoco branded gasoline as well as unbranded fuels supplying
over one million gallons a month.
TravelCenters of America is the largest publicly traded full-service truck stop
and travel center company in the United States with 304 locations in 44 states.
The company operates full-service centers, convenience stores, and restaurants
under the TravelCenters of America, TA, Petro Stopping Centers, TA Express,
GOASIS brands. In May 2023, BP Products North America Inc., a wholly owned
indirect subsidiary of BP plc acquired the company.
Investment Highlights
- 28+ Year Absolute Net Lease | Zero Landlord Responsibilities
- 2% Annual Increases
- Four, 20-Year Options with 2% Annual Increases
- LV Petroleum Guarantee | 30+ TA Truck Stops
- Guarantor has a Robust Pipeline of 15+ Truck Stops
- LV Petroleum has Recently Completed $3,100,000 in Improvements
- TravelCenters of America has 300+ Locations in 44 States
Listing Price: $6,210,000
Investment Highlights
- 28+ Year Absolute Net Lease | Zero Landlord Responsibilities
- 2% Annual Increases
- Four, 20-Year Options with 2% Annual Increases
- LV Petroleum Guarantee | 30+ TA Truck Stops
- Guarantor has a Robust Pipeline of 15+ Truck Stops
- LV Petroleum has Recently Completed $3,100,000 in Improvements
- TravelCenters of America has 300+ Locations in 44 States
Investment Overview
Marcus & Millichap is pleased to present for sale this TravelCenters of America (TA) operated by LV Petroleum, located at 1212 North 47th Street, Grand Forks, North Dakota. Grand Forks is the 3rd most populous city in North Dakota and lies on the eastern edge of the state. It is located approximately 74 miles from Fargo, North Dakota and 145 miles from Winnipeg, Manitoba. The subject property is strategically located at the crossroads of Interstate 29 and U.S. Highway 2 with a combined 31,790 vehicles per day. Within a 5-mile radius of the property, there is 4.2 million square feet of industrial property with a low 0.2% vacancy rate and 5.8 million square feet of retail with a 0.7% vacancy rate. This truck stop is located only a three-minute drive from the University of North Dakota with over 14,000 students enrolled. The guarantor, LV Petroleum, has over 28 years remaining on the absolute triplenet lease with 2% annual escalations including the four, 20-year rental option periods. LV Petroleum is the largest franchise operator under the TravelCenters of America brand name. The subject property is situated on 9.10 acres with a 16,496 square foot store. Amenities at this location include Sbarro’s, Charley Cheesesteaks, 8 Diesel Fueling Lanes, 65 Parking spaces, 8 Private Showers, a Driver’s Lounge, Laundry Facilities, and a CAT Scale. LV Petroleum, the largest franchise operator within the TA system, has over 30 operating truck stops, 23 gas stations (NV/AZ) and a pipeline of 15+ additional truck stops of both ground up builds or through acquisition and rebrand. They operate for 19 restaurant franchisees including Sbarro, Rally’s, KFC, Einstein Bros Bagels, Krispy Krunchy Chicken, Del Taco, Dunkin, Charley’s and Black Bear Diner. In addition to retail operations, LV Petroleum operates a wholesale fuel distribution company that supplies over 100 gas stations for brands such as 76, Philips and Conoco branded gasoline as well as unbranded fuels supplying over one million gallons a month. TravelCenters of America is the largest publicly traded full-service truck stop and travel center company in the United States with 304 locations in 44 states. The company operates full-service centers, convenience stores, and restaurants under the TravelCenters of America, TA, Petro Stopping Centers, TA Express, GOASIS brands. In May 2023, BP Products North America Inc., a wholly owned indirect subsidiary of BP plc acquired the company.

