By Emily Ford
eford@salisburypost.com
SALISBURY – No word yet on what stores will occupy the Wallace Commons expansion approved this week by Salisbury City Council, but Glidden Paint is moving into the existing part of the shopping center.
The high-end paint shop should open within a month in the 4,500-square-foot space beside Hibbett Sports, which had been vacant since the center was built in 2008 when the economy faltered.
Michael Smith, managing partner of Collett and Associates of Charlotte, said he’s ready to sign another retailer for the final vacancy, an 8,000-square-foot space between Hibbett and Kohl’s.
Smith said he hopes to name the retailer, which should open in early 2013, in about 30 days.
Collett owns Wallace Commons with the Wallace family of Salisbury.
The expansion project next door, which will add 113,000 square feet and four new stores, has helped fill vacant storefronts in the existing center, Smith said.
For the first time, Wallace Commons will be at 100 percent occupancy.
“It’s a reflection on the market improving,” Smith said. “It’s a reflection on the future improvements at Wallace Commons being developed by Hutton, and that’s created a win-win opportunity for Salisbury and for the project.”
Hutton Co. of Chattanooga, Tenn. plans to buy the vacant parcel at Julian Road and Interstate 85 owned by Home Depot for the expansion.
Derek Jones, acquisitions partner for Hutton, said Wednesday he expects to announce four tenants within 30 days.
Plans call for a department store, second anchor and two smaller retailers.
Belk has been considering a move from the troubled Salisbury Mall to Wallace Commons.
The new Glidden Paint store will cater to residential customers working on do-it-yourself projects, as well as contractors buying paint for commercial jobs, Smith said.
Contact reporter Emily Ford at 704-797-4264.