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 Closes $20 Million Loan for Travel Plaza Redevelopment in Robertsdale
Forman Capital has successfully secured a construction bridge loan worth $20 million for the redevelopment of a significant travel plaza in Robertsdale, Alabama. This financing has been provided to LV Petroleum, the largest proprietor and operator of TA Travel Center franchises throughout the United States.
Purpose of the Loan
The loan aims to facilitate the redevelopment and completion of the retail travel plaza located at 27801 County Road 64. Previously named the Oasis Travel Center, this venue has been transformed into a fully operational TA Travel Center, which serves the traveling public by providing various services crucial for long-distance journeys. However, it is important to note that diesel fuel sales have not yet been implemented at this location.
Strategic Location
The travel plaza is strategically located approximately 27 miles east of Mobile, Alabama, making it a convenient stop for travelers heading in and out of the region. Spanning over 51 acres, the site offers plenty of space for travelers to refuel and rest on their trips.
Key Features of the Travel Plaza
The redeveloped travel plaza features 26,797 square feet of retail space, equipped with on-site amenities such as popular fast-food outlets including Subway and Sbarro. These offerings provide travelers with quick and convenient dining options while they take a break from their journeys.
In addition to dining choices, the travel plaza is equipped with eight gas pumps and five diesel pumps, satisfying fuel needs for both regular vehicles and commercial trucks. It also features four diesel emission fluid pumps, making it an environmentally friendly option for long-haul truck drivers.
Parking Facilities
Understanding the needs of traveling motorists, the facility provides ample parking, including spaces for 100 vehicles and 220 semi-trucks. This ensures that motorists have a safe and convenient place to park while they refuel on services and food.
Expertise Behind the Loan
Representatives from Forman Capital, including Brett Forman, Ben Jacobson, Scott Mehlman, Ty Regnier, and Cam Fleury, played significant roles in facilitating this loan. Their expertise was crucial in navigating the complexities of the financing required for this redevelopment project.
LV Petroleum’s Operational Footprint
LV Petroleum is not just focused on this project; it also manages over 40 convenience stores and travel centers across the United States. The development in Robertsdale is part of their ongoing strategy to enhance customer experience and operational efficiency across their service locations, offering high-quality amenities and fuel options for travelers.
Looking Ahead
The redevelopment of this travel plaza is set to significantly boost the local economy by increasing accessibility for travelers and enhancing consumer services. With the convenient location and impressive range of amenities, the TA Travel Center aims to become a preferred stop for travelers in the area.
As the project progresses, residents, travelers, and transport operators can look forward to the completion of additional services that will eventually include diesel fuel sales, further solidifying the plaza’s position as a comprehensive travel destination.
Ultimately, the investment from Forman Capital reflects a growing trend in the hospitality and travel service sectors, as operators continue to seek modernized facilities that cater to the needs of today’s commuters.
Deeper Dive: News & Info About This Topic
Additional Resources
- REBusiness Online
- Gulf Coast Media
- Wikipedia: Travel Center
- Google Search: TA Travel Center
- Encyclopedia Britannica: Convenience Store
Author: Construction NY News
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at constructionnynews.com, your go-to source for actionable local news and information in New York and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the New York Build Expo, infrastructure breakthroughs, and cutting-edge construction technology showcases. Our coverage extends to key organizations like the Associated General Contractors of New York State and the Building Trades Employers' Association, plus leading businesses in construction and real estate that power the local economy such as Turner Construction Company and CMiC Global. As part of the broader network, including constructioncanews.com, constructiontxnews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
