LV Petroleum Sold Two Travel Centers for $36.7 Million
The operator divested properties in Tennessee and Texas to refine its network toward a 100-site goal.
Updated on Sept. 25, 2026 in Business Strategy
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LV Petroleum has sold two travel centers for $36.7 million, a move aimed at consolidating its footprint as it pursues a target of 100 locations. The divestiture was brokered by Sands Investment Group and involved assets free and clear of fuel contracts.
Why it matters
The sale serves as a strategic realignment for the operator as it seeks to reach its 100-location target while maintaining its existing base of over 90 travel centers and 30 convenience stores. These capital-raising moves often allow operators to reallocate resources toward more efficient or strategically positioned assets.
The $36.7 million sale reflects the total value of the two divested locations. LV Petroleum currently operates more than 90 travel centers and 30 convenience stores as it works toward its growth milestone of 100 total travel center units.
The players
LV Petroleum
An operator managing more than 90 travel centers and 30 convenience stores.
Sands Investment Group
A commercial real estate brokerage firm that facilitated the travel center sales.
Jamie Hubbard
The newly hired senior vice president of construction and maintenance with 30 years of industry experience.
The details
Sands Investment Group led the transaction, with Yossi Freeman, Matt Montagne, and Tyler Ellinger managing the sale of the businesses and their underlying real estate. By ensuring the properties were delivered free and clear of existing fuel contracts, the company maximized the appeal of these assets to potential investors or operators. This transaction coincides with the company's recent hiring of Jamie Hubbard, who brings 30 years of experience to lead construction and maintenance operations.
Timeline
2014 was the year LV Petroleum was founded.
Summer 2026 saw the company add three travel centers to its network.
Market Landscape
The divestiture follows the company's summer expansion, which added three travel centers to the network. This pattern indicates an effort to rebalance the portfolio by shedding specific assets while continuing a broader growth strategy toward 100 locations.
Operators looking to optimize asset portfolios should note the efficacy of delivering properties free of existing fuel contracts to increase liquidity. Monitor how the company integrates its recent maintenance and construction leadership to support the transition toward its 100-site goal.
The takeaway
Reaching a scale of 100 units often requires balancing aggressive acquisitions with tactical exits of non-core assets. Review your current property fuel contracts to determine if existing encumbrances are limiting your ability to divest or refinance under similar market conditions.
Further reading
For broader trends in operational scaling and portfolio management, see Business Strategy.
Source note: This article includes information reported by Convenience Store News.
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