Investment Overview

Marcus & Millichap is pleased to present for sale this TravelCenters of America (TA) Express operated by LV Petroleum located at 13553 64th Street NW, Williston, North Dakota. Williston is the 6th most populous city in North Dakota and lies on the western edge of the state. The city’s population nearly doubled between 2010 to 2020, due largely to the North Dakota oil boom. It is located approximately 172 miles from Regina, Saskatchewan, 220 miles from Bismarck, North Dakota and 330 miles from Billings, Montana. The subject property is strategically located at the crossroads of U.S. Highways 2 and 85 with a combined traffic count of 9,208. Within a 20-mile radius of the property there are 6.3 million square feet of industrial property with a low 3.7% vacancy rate and 1.6 million square feet of retail with a 0.4% vacancy rate. The guarantor, LV Petroleum, has over 28 years remaining on the absolute triple-net lease with 2 percent annual escalations including the four, 10-year rental option periods. LV Petroleum is the largest franchise operator under the TravelCenters of America brand name. The subject property is situated on 7.42 acres with a 9,452 square foot store. Amenities at this location include Cinnabon, Subway, 7 Diesel Fueling Lanes, 80 Parking spaces, 5 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.