In this special guest episode of The TreppWire Podcast, we’re joined by Carmen Spinoso, Chairman and CEO of Spinoso Real Estate Group, one of the country's largest privately held enclosed mall operators. With more than 35 years of industry experience, Carmen shares how his firm approaches value creation across its portfolio, including high-profile projects like the management of Grand Central Terminal and Ovation Hollywood. We dive into the current state of the retail sector, why brick-and-mortar still captures 75-80% of all sales, and how Gen Z is driving traffic back to malls. Carmen walks us through case studies on repositioning vacant anchors and attracting experiential tenants, the importance of community-focused marketing and events, and why the 2026 outlook for enclosed malls is looking strong. Tune in now.Episode notes:Carmen's Journey: From Leasing Rep to CEO (2:16) Portfolio Update: Grand Central Terminal & Ovation Hollywood (13:00) Why Malls Are Still a Valuable Investment Class (17:00) Turning Around Underperforming Malls (26:12) Marketing, Events & Community Building (29:31) 2026 Outlook & Final Thoughts (36:15) Questions or comments? Contact us at [email protected]. Follow Trepp: X: www.x.com/TreppWire LinkedIn: www.linkedin.com/company/trepp

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