Building a truck stop from the ground up can take several years. The development process, due diligence, land acquisition, zoning and build out all take time. Not to mention that 10+ acres established areas can be tough to find. Acquiring existing sites can help businesses hit the ground running while also saving money.
Building a new location can be a two-year process versus buying an existing site, which typically takes three to six months. As a result, acquisitions are a good way to get operational and bring in revenue right away. Even if operators plan to make major renovations or upgrades, they can generate revenue while making improvements.
“The main benefit of growing through acquisitions is time,” said Kevin O’Hanlon, first vice president, investments, for Marcus Millichap, a real estate brokerage company. Marcus Millichap generously sponsored Fast Forward Focus, the NATSO Foundation’s fall leadership conference.
The second benefit is cost. The cost of a new build can easily exceed $20 million all in. O’Hanlon said a common misconception is that the cost of acquiring and improving a property cost more than developing a new location. “That is true in some cases, but if you buy at the right price that should never be the situation,” he explained. “Purchasing an existing truck stop could be less capital intensive at purchase.”
Operators
07-16-2025
