Forman Capital Facilitates $20 Million Loan for TA Travel Center

News Summary

Forman Capital has provided a $20 million bridge loan to support the redevelopment of the TA Travel Center in Robertsdale, Alabama. The funding will assist in transforming the former Oasis Travel Center into a modern facility with retail spaces, dining options, and comprehensive fueling services. With its strategic location and extensive amenities, the revamped travel plaza aims to enhance the travel experience for motorists in the area, contributing to the growth of essential travel infrastructure.

Forman Capital Supplies $20 Million for Travel Center Revamp

Forman Capital has provided a significant financial boost to the redevelopment of a key travel destination in Alabama. A construction bridge loan totaling $20 million has been granted to LV Petroleum, a leading player in the travel center industry and the largest franchise owner of TA Travel Centers across the United States. This funding is specifically aimed at transforming a retail travel plaza situated at 27801 County Road 64 in Robertsdale, Alabama, formerly known as the Oasis Travel Center.

Strategic Location and Amenities

The travel plaza boasts a prime location, approximately 27 miles east of Mobile, Alabama, making it a convenient stop for both local residents and travelers. Covering a broad area of 51 acres, the plaza features 26,797 square feet of dedicated retail space. Visitors can enjoy a range of amenities designed to enhance their travel experience, including popular dining options like Subway and Sbarro. The center also caters to fuel needs with a robust setup featuring eight gas pumps, five diesel pumps, and four diesel emission fluid pumps.

Capacities to Accommodate All Vehicles

The newly revamped travel plaza is designed to meet the needs of various vehicle types. Eager travelers can take advantage of the available parking, which accommodates 100 vehicles and provides ample space for 220 semi-trucks. This attention to vehicle logistics emphasizes the travel plaza’s commitment to serving all road users effectively.

Current Status of Services

While the transformation of the center is well under progress, it is important to note that all services are operational except for diesel fuel sales. This aspect is expected to be addressed soon, further solidifying the plaza’s position as a comprehensive travel hub.

LV Petroleum’s Expansive Network

LV Petroleum is not just a single-location operator; the company manages a vast network of over 40 convenience stores and travel centers throughout the United States. This extensive reach contributes significantly to the company’s ability to attract a diverse customer base to its locations, enhancing regional travel experiences across the country.

Investment Team Behind the Project

The transaction has been facilitated by a skilled team from Forman Capital, which includes key individuals such as Brett Forman, Ben Jacobson, Scott Mehlman, Ty Regnier, and Cam Fleury. Their expertise plays a crucial role in the financing and planning processes necessary for undertaking such a substantial redevelopment project.

Future Prospects of the Travel Center

The $20 million bridge loan marks a vital step towards revitalizing the travel plaza, which aims to be a one-stop destination for travelers in the region. With a strong emphasis on improving facilities and services, the project promises to enhance the overall appeal of the TA Travel Center as both a fueling station and a consumer-friendly retail establishment.

Conclusion: A Positive Impact

The redevelopment of the travel plaza in Robertsdale is anticipated to have a positive impact not only on local economies but also on the broader travel network in Alabama. With the backing of Forman Capital and the operational expertise of LV Petroleum, this project is set to elevate travel experiences across the region and reinforce the importance of convenient travel hubs on busy highways.

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Additional Resources

• REBusiness Online
• Gulf Coast Media
• Wikipedia: Travel Center
• Google Search: TA Travel Center
• Encyclopedia Britannica: Convenience Store