The Mankato Travel Center, a prominent travel stop developed by Fryberg Petroleum in 2023, located at 3010 Adams Street in Mankato, Minnesota, has been acquired for a significant $10 million. LV Petroleum LLC, based in Las Vegas, finalized the purchase on October 17th from Trifecta Properties LLC of Mankato, marking a noteworthy transaction in the commercial real estate sector. This sale underscores the robust investment appeal of strategically located travel centers, especially those like the Mankato Travel Center that cater to a broad range of travelers and the local community.
This substantial deal includes both the real estate and a long-term NNN (triple-net) lease agreement with Fryberg Petroleum, the Mankato-based operator of the travel center. The property boasts a 7,575-square-foot facility that houses a modern restaurant and convenience store. Beyond the standard amenities expected at a travel center, Mankato Travel Center offers 75 overnight truck parking stalls, eight high-speed refueling lanes, and unique attractions like an 18-hole golf simulator, enhancing its appeal to a diverse clientele.
The Mankato Travel Center distinguishes itself by targeting not only long-haul truckers and interstate travelers but also the local community. Its advantageous location near Highway 14 positions it within a thriving regional business hub. This area is home to major retail anchors such as Target, Walmart, and Hy-Vee, alongside popular dining establishments including Applebee’s, Five Guys, and AW Restaurant. This strategic placement ensures a steady flow of local customers in addition to highway traffic, making the travel center a versatile and attractive investment.
Sands Investment Group, a national leader in net lease real estate based in Atlanta, Georgia, acted as the exclusive advisor for the seller in this transaction. They collaborated with Scott Reid of ParaSell Inc., a national brokerage service, to facilitate the sale, highlighting the strong demand for high-quality travel center properties in strategic locations like Mankato.
Fryberg Petroleum, the operating tenant, is a well-established, family-owned company with deep roots in southern Minnesota. They are a major distributor of bulk fuel, lubricants, and other petroleum products in the region. Furthermore, Fryberg operates several Shell-branded gas stations in Mankato, North Mankato, and Blue Earth, and a BP station in St. Clair, demonstrating their extensive presence and expertise in the petroleum and convenience store sectors. The sale of the Mankato Travel Center as a leased investment property reflects the ongoing strength and attractiveness of the travel center market and the value of prime locations in regional business centers.
Property Details:
Location: 3010 Adams St., Mankato, MN
Sale Price: $10,000,000
Buyer: LV Petroleum LLC, Las Vegas, NV
Seller: Trifecta Properties LLC, Mankato, MN
Transaction Date: October 17, 2024
