TA – Suffolk, VA

Surmount is pleased to present the opportunity to acquire the TravelCenters of America located at 2400 Holland Road in Suffolk, Virginia, a strategically positioned travel center along U.S. Route 58 in the Hampton Roads region. This established travel center is being converted to the nationally recognized TravelCenters of America (“TA”) platform and will be operated by LV Petroleum, LLC. It will be subject to a new 20-year absolute triple-net (NNN) sale-leaseback with 2.0% annual rental increases and four 10-year renewal options, providing investors with long-term contractual income, consistent annual NOI growth and zero landlord responsibilities.
The property sits on Holland Road (U.S. Route 58), the primary east-west corridor serving western Suffolk. The road carries approximately 24,000 vehicles per day near the site and approximately 47,000 vehicles per day along the U.S. Route 58 bypass to the east. The travel center is surrounded by one of the fastest-growing logistics corridors in Hampton Roads. Nearby users include Amazon, Lowe’s Distribution, the Target Upstream Distribution Center, the Ace Hardware Import Redistribution Center, NFI and MSI Defence Systems, generating steady daily demand from commercial freight, fleet operators and the area workforce. The Port of Virginia, one of the busiest container ports on the East Coast, sits just to the east, further positioning the site to serve regional and long-haul truck traffic.
The Suffolk offering combines the characteristics net-lease investors seek in the travel center sector: an established travel center location on a major freight corridor, a rapidly expanding national operator, nationally recognized TA branding, essential transportation-oriented real estate and a new 20-year absolute NNN lease with 2.0% annual rental growth. The property’s location in the heart of a growing Hampton Roads logistics hub creates an attractive opportunity to acquire long-duration, inflation-responsive income backed by a specialized real estate asset serving commercial freight and regional travelers.
LV Petroleum, the largest franchise operator within the TravelCenters of America system with 90+ operating truck stops in 10 states, 23 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.