Investment Overview

Marcus & Millichap is pleased to present for sale this Petro Center operated by LV Petroleum located at 428 Main Street, Shorter, AL. Petro Center is a brand under the TravelCenters of America (TA) umbrella. The subject property is strategically located on Interstate 85 with 43,222 vehicles per day. It is situated between Montgomery, AL (25 miles) and Atlanta, GA (140 miles). Interstate 85 connects to many other interstates and spur routes feeding trucks from Texas to the entire east coast. Within a 20-mile radius of the property there are 13.1 million square feet of industrial property with a 10.8% vacancy rate and 19.8 million square feet of retail with a 5.6% vacancy rate. The guarantor, LV Petroleum, will sign a 20-year absolute triple-net lease with 2% annual escalations including the four, 10-year rental option periods. The subject property is situated on 7.6 acres with a 12,901 square foot store. Amenities at this location include Charley’s Philly Steaks, Sbarro, 4 Diesel Fueling Lanes, 50 Truck Parking Spaces, 6 Private Showers, Repair Shop with 5 full-service bays, Lounge/Game Area, Laundry, Travel Store and a CAT Scale. LV Petroleum, the largest franchise operator within the TA system, has 43 operating truck stops in 10 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 Sbarro, Rally’s, KFC, Einstein Bros Bagels, Krispy Krunchy Chicken, Del Taco, Dunkin, Charley’s, Bojangles, Black Bear Diner and others. 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.