Wallace Commons I & II

JLL is exclusively marketing Wallace Commons I & II, a 209,431 square foot high-performing super regional retail shopping center strategically located in Salisbury, NC, within the thriving Charlotte MSA. The center boasts 100% occupancy and features a top-tier anchor tenant lineup including industry leaders such as Belk, Kohl's, Shoe Carnival, Ulta, Michaels, Dollar Tree, Bath & Body Works, and Longhorn Steakhouse.

Wallace Commons benefits from an exceptional location with direct visibility along the I-85 corridor (80,000 VPD), providing super-regional connectivity and significant drawing power extending over 50 miles. Salisbury is positioned approximately 35 miles northeast of Uptown Charlotte and 45 miles from Greensboro, benefiting from North Carolina's recognition as the #1 Best State for Business. The surrounding trade area demonstrates remarkable growth momentum, with the 3-mile population increasing 14.0% from 2010 to 2025, while households grew 15.4% during the same period.

Wallace Commons offers compelling value creation opportunities for new ownership. 80% of tenants currently pay below market rents, with an average of 30%+ below market, presenting approximately $150,000+ in potential base rental revenue growth through mark-to-market leasing.

The property features strong historical NOI growth with a 3.03% 10-year CAGR and a projected 33% NOI growth over the analysis period. The center benefits from a highly tenured rent roll, with 9 out of 12 tenants having over 10 years of tenure and a weighted average tenure of 13.7+ years, providing exceptional income stability.

The combination of durable, best-in-class national tenancy (97% of GLA represented by national or regional tenants), premier interstate connectivity, highly sustainable below-market rents, and the extraordinary multi-anchor drawing power serving a 50+ mile extended trade area make Wallace Commons a market-leading retail investment opportunity in one of the Southeast's fastest-growing regions.