Northmarq’s ATL Debt + Equity team arranges $20.14 million refinancing for 2 grocery-anchored retail centers in Alabama
Photo source: Northmarq
MADISON, Ala — Northmarq’s Atlanta Debt + Equity team, led by Randy Wolfe and Josh Darby, successfully arranged $20.14 million in financing for two grocery-anchored retail properties totaling 133,839 square feet in Alabama.
The properties include:
• Strong Station: 1504 Hwy. 72 W., Madison, Alabama | 95,940 square feet.
• The Crossings of Hoover: 5250 Medford Dr., Hoover, Alabama | 37,899 square feet.
Northmarq arranged the financing on behalf of the borrower, Livingston Properties, through a relationship with a regional bank. The floating-rate financing for each property was structured as a 4.5-year term with potential extension options.
“We conducted a wide lender search across banks, credit unions and insurance companies, and found an attractive combination of proceeds and pricing on these well-located grocery-anchored assets,” Wolfe said. “We were encouraged by the lender appetite although the grocers were not required to report sales.”
Strong Station is home to a mix of local and national retailers and restaurants, including Sprouts Farmers Market, Hobby Lobby and Another Broken Egg Café. Together, Sprouts and Hobby Lobby occupy 87% of the property’s gross leasable area.
Nestled in the Tennessee Valley, the asset is located along U.S. Highway 72, one of the area's primary commercial corridors, benefiting from strong visibility and convenient access to the Huntsville metropolitan area.
The Crossings of Hoover is conveniently located within the Birmingham metro area. Built in 2015, the fully occupied center is anchored by Sprouts Farners Market and includes Starbucks, Jimmy Johns, Warhammer, Riviera Nails & Spa, and Sanpeggio’s Pizza.
The property is situated near I-459 and John Hawkins Parkway, supporting accessibility within the Hoover and greater Birmingham area
Together, the properties feature established grocery anchors and complementary tenant mixes that serve the everyday needs of their surrounding communities. Grocery-anchored retail centers continue to attract lender and investor interest because of their ability to generate recurring consumer traffic and support stable occupancy.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
