Investment Overview

Marcus & Millichap is pleased to present for sale this TravelCenters of America (TA) located at 901 Bankhead Highway West, Birmingham, Alabama. Birmingham is Alabama’s most populous city with a population over 196,910. Birmingham has a strong economy, especially in the sectors of steel (American Cast Iron Pipe Company, McWane, U.S. Steel, CMC Steel and Nucor); biotechnology (Diagnostic health Corporation, Caremark Rx, Surgical Care Affiliates, and Healthsouth), and banking (Regions Financial Coporation, PNC Financial Services, and Wells Fargo). Other large companies that call Birmingham home are AT&T, Blue Cross and Blue Shield of Alabama, Liberty National, Protective Life and ProAssurance. The subject property is strategically located on Bankhead Highway with 40,270 vehicles per day. Within a 2-mile radius of the property are 8.4 million square feet of industrial properties with a 1.8% vacancy rate and 1.1 million square feet of retail properties with a low 4.5% vacancy rate. The guarantor, LV Petroleum, will sign a 20-year absolute triple-net lease with 2 percent annual escalations including the four, 20-year rental option periods. The subject property is situated on 7.4 acres with a 10,297 square foot store. Amenities at this location include Arby’s, Dunkin’, 8 Diesel Fueling Lanes, 100 Truck Parking Spaces, 51 Car Parking Spaces, 7 Private Showers, a Driver’s Lounge, Laundry Facilities, CAT Scale among others. LV Petroleum, the largest franchise operator within the TA system, has 12 operating truck stops in 9 states, 19 gas stations (NV/AZ) and a pipeline of 15+ additional truck stops of both ground up builds or through acquisition and rebrand. They are franchisees for Arby’s, 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 76, Philips and Conoco branded gasoline as well as unbranded fuels which supplies 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.