L2B Invest Pays $33M for Medley Truck Stop, Up 40% in Weeks

Miami-based L2B Invest paid a reported $33 million for the Mobil-branded truck stop at 12200 NW South River Drive in Medley, buying from an affiliate of Las Vegas-based LV Petroleum, The Real Deal reported July 29. Miami-Dade County’s own deed record shows LV Petroleum’s affiliate, Medley Holdings FL LLC, bought the same site for $23.55 million just ten weeks earlier, on May 16, 2026, from South Florida Truck Stop Inc, a $9.45 million gain of roughly 40 percent.

Why it matters

The flip is a live data point on what fuel-and-logistics land is worth right now in Medley, one of South Florida’s tightest industrial submarkets, wedged between the Palmetto Expressway and Miami International Airport’s cargo apron. Infill sites here rarely trade, so two arm’s-length prices on the same parcel inside a single year is a real land-basis benchmark for any developer or investor pricing a site-selection decision in the corridor. A 40 percent markup in under three months says LV Petroleum, and now L2B, are pricing this land well above where it traded even five months ago.

The numbers

The site is a single, consolidated 62,393-square-foot parcel, 1.43 acres, zoned Industrial-Light Manufacturing, per the Property Appraiser’s folio for 12200 NW South River Drive. It carries a 3,530-square-foot service station building and a 3,784-square-foot fuel canopy, both built in 2004, plus a smaller structure added in 2014. That puts the reported $33 million price at roughly $529 per square foot of land, up from $377 per square foot when LV Petroleum bought in May, both calculated from the recorded deed prices and the county’s own lot size. The May deed, recorded at Official Records Book 35324, Page 1883, carried $141,300 in documentary stamp taxes.

What’s next

Miami-Dade’s official records had not yet recorded a deed for the reported July sale as of this writing, typical for a closing that recent. Watch for that filing to confirm the exact buyer entity and final consideration, and for any site plan or permit activity signaling whether L2B keeps running fuel and truck parking here or repositions the site for logistics use.