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Madison and Hoover, Ala. — Northmarq has arranged a $20.1 million loan to refinance two retail centers in Alabama totaling 133,939 square feet: Strong Station in Madison and The Crossings at Hoover in Hoover. Randy Wolfe and Josh Darby of Northmarq arranged the floating-rate loan through a regional bank on behalf of the borrower, Livingston Properties.
The first property, Strong Station, totals 95,940 square feet and is anchored by Sprouts Farmers Market. Other tenants at the center include Hobby Lobby and Another Broken Egg Café.
Built in 2015, The Crossings at Hoover was fully leased at the time of sale to tenants such as Sprouts Farmers Market, Starbucks Coffee, Jimmy Johns, Warhammer, Riviera Nails & Spa and Sanpeggio’s Pizza.