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 Issues $20 Million Bridge Loan for Travel Plaza Redevelopment in Robertsdale
Forman Capital has recently provided a substantial bridge loan of $20 million to LV Petroleum, marking a significant step forward for the redevelopment of a popular travel plaza in Robertsdale, Alabama. The funds will be utilized for the revitalization and completion of the retail travel center located at 27801 County Road 64, on the site previously known as the Oasis Travel Center.
Significant Project Details
The newly refurbished facility is now operating as a TA Travel Center, which is part of the franchise owned and managed by LV Petroleum—recognized as the largest owner and operator of these travel centers in the United States. While most services are fully operational, diesel fuel sales are currently not available, which is a critical component for many travelers and truck drivers.
Location and Size Information
The travel plaza enjoys a prime location approximately 27 miles east of Mobile, Alabama, making it accessible for a considerable number of travelers. The site spans a substantial 51 acres, maximizing the potential for varied services and amenities.
Facilities at the Travel Plaza
The redevelopment includes 26,797 square feet of retail space, providing ample room for various offerings. On-site amenities feature well-known dining options such as Subway and Sbarro restaurants, catering to the needs of both local visitors and long-distance travelers.
For refueling, the travel plaza is equipped with eight gas pumps and five diesel pumps, alongside four diesel emission fluid pumps—essential for the modern trucking industry. The ample parking includes provisions for 100 vehicles and accommodations for 220 semi-trucks, ensuring that the needs of all visitors are met efficiently.
The Team Behind the Financing
This significant transaction was represented by a capable team from Forman Capital, including Brett Forman, Ben Jacobson, Scott Mehlman, Ty Regnier, and Cam Fleury. Their combined expertise played a vital role in facilitating this funding, which is anticipated to boost local economy growth and enhance the travel experience for consumers.
Broader Impact of LV Petroleum
Aside from this specific project, LV Petroleum oversees more than 40 convenience stores and travel centers across the United States, building a strong presence in the industry. This redevelopment project in Robertsdale is an integral part of LV Petroleum’s strategy to expand its network of TA Travel Centers, ensuring that quality services are accessible to travelers nationwide.
Conclusion
The $20 million bridge loan from Forman Capital signifies a pivotal moment for the travel plaza’s redevelopment project. With its strategic location, expanded facilities, and enhanced services, the TA Travel Center in Robertsdale is set to become a key stop for travelers and truck drivers alike. As the redevelopment progresses, the local community anticipates a revitalized facility that not only caters to the needs of customers but also contributes positively to the economic landscape of the region.
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 CA News
CALIFORNIA STAFF WRITER The CALIFORNIA STAFF WRITER represents the experienced team at constructioncanews.com, your go-to source for actionable local news and information in California 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 Rose Parade, Coachella, Comic-Con, and the California State Fair. Our coverage extends to key organizations like the California Building Industry Association and Associated General Contractors of California, plus leading businesses in technology and entertainment that power the local economy such as Apple and Alphabet. As part of the broader network, including constructionnynews.com, constructiontxnews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic landscape across multiple states.
