Auto Service - Gas-Conv
TA Truck Stop 20 Year SLB NNN Lease
36 Riverside Dr, New York, NY 10023
Listing Price: $36,000,000
Investment Overview
Marcus & Millichap is pleased to present for sale this TA Travel Center operated
by LV Petroleum located at 40 Riverside Dr, Fultonville, NY. The subject property
is situated along the New York State Thruway (Interstate 90) which spans the
entire country from Boston, MA to Seattle, WA traversing through 13 states.
Along I-90 locally, the property is 40 miles from Albany, NY, 54 miles from Utica,
NY and 104 miles from Syracuse, NY.
Within a 10-mile radius of the property there are 14.6 million square feet of
industrial property with a 4.0% vacancy rate and 7.1 million square feet of retail
with a 1.0% vacancy rate.
The guarantor, LV Petroleum, will sign a 20-year absolute triple-net lease with
2 percent annual escalations including the four, 10-year rental option periods.
The subject property is situated on 10.5 acres with a 25,763 square foot store.
Amenities at this location include Miss J’s Diner, Miss J’s Express Café, Sbarro,
10 Diesel Fueling Lanes, 121 Truck Parking Spaces, 8 Private Showers, Repair
Shop with 2 full-service bays, Motel, 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.
TA Truck Stop 20 Year SLB NNN Lease
Investment Highlights
- 20 Year Absolute Net Sale-Leaseback | Zero Landlord Responsibilities
- 2% Annual Increases
- Four, 10-Year Options with 2% Annual Increases
- LV Petroleum Guarantee | 43+ TA Truck Stops
- Guarantor has a Robust Pipeline of 15+ Truck Stops
- TravelCenters of America has 304 Facilities in 44 States
Listing Price: $36,000,000
Investment Highlights
- 20 Year Absolute Net Sale-Leaseback | Zero Landlord Responsibilities
- 2% Annual Increases
- Four, 10-Year Options with 2% Annual Increases
- LV Petroleum Guarantee | 43+ TA Truck Stops
- Guarantor has a Robust Pipeline of 15+ Truck Stops
- TravelCenters of America has 304 Facilities in 44 States
Investment Overview
Marcus & Millichap is pleased to present for sale this TA Travel Center operated by LV Petroleum located at 40 Riverside Dr, Fultonville, NY. The subject property is situated along the New York State Thruway (Interstate 90) which spans the entire country from Boston, MA to Seattle, WA traversing through 13 states. Along I-90 locally, the property is 40 miles from Albany, NY, 54 miles from Utica, NY and 104 miles from Syracuse, NY. Within a 10-mile radius of the property there are 14.6 million square feet of industrial property with a 4.0% vacancy rate and 7.1 million square feet of retail with a 1.0% vacancy rate. The guarantor, LV Petroleum, will sign a 20-year absolute triple-net lease with 2 percent annual escalations including the four, 10-year rental option periods. The subject property is situated on 10.5 acres with a 25,763 square foot store. Amenities at this location include Miss J’s Diner, Miss J’s Express Café, Sbarro, 10 Diesel Fueling Lanes, 121 Truck Parking Spaces, 8 Private Showers, Repair Shop with 2 full-service bays, Motel, 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.
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