Syracuse, NY – [December 1, 2025] –

Spinoso Real Estate Group, in partnership with Tryperion Holdings, announced the acquisition of The Mall at Johnson City, a 544,659 square foot regional mall located at 2011 North Roan Street in Johnson City, Tennessee.

This acquisition marks the first partnership transaction between Spinoso Real Estate Group, an enclosed mall operations and management expert, and Tryperion Holdings, a commercial real estate investment firm focused on equity and credit opportunities within the U.S. middle market. The partnership combines Spinoso’s national operating platform and Tryperion’s extensive institutional investment expertise

“The Mall at Johnson City is a strong, resilient retail asset that serves a large and healthy trade area with sustained tenant demand,” stated Spinoso Real Estate Group’s CEO, Carmen Spinoso. “This acquisition represents the type of opportunity our firm is disciplined in pursuing.”

“We are excited to acquire this iconic asset alongside a partner as experienced and knowledgeable as Spinoso,” added Tryperion Founder and Managing Partner Jeffrey Karsh. “Our team is looking forward to enhancing the Mall at Johnson City shopping experience and preserving its status as a landmark within this rapidly-growing region.”

Market and Trade Area Strength

The Mall at Johnson City sits at the heart of a resilient and diversified regional economy, anchored by robust employment in healthcare, higher education, manufacturing, and retail. The center draws visitors from a trade area of more than 750,000 residents across Northeast Tennessee and Southwest Virginia, supported by consistent household income growth and strong year-round visitation. The center’s performance is reinforced by its role as the primary enclosed shopping destination within a 100-mile radius, creating a durable retail draw with limited direct competition.

Tenant Mix and Property Performance

The property includes a fully leased anchor lineup featuring Belk, Belk Men and Home, JCPenney, Dick’s Sporting Goods, and Home Goods, along with outparcel tenants Texas Roadhouse, Chipotle, and Chicken Salad Chick.

Recent leasing momentum has attracted several new national retailers across apparel, lifestyle, specialty, and dining categories, supporting sustained foot traffic and positioning the property for continued tenant demand.

Ownership Strategy and Planned Enhancements

The new ownership group will execute a disciplined, multi-year investment strategy centered on operational excellence, curated reinvestment, and leasing-driven value creation. The plan focuses on strengthening tenant performance, elevating the guest experience, and modernizing the property through selective capital improvements. Enhancements will prioritize critical building systems, aesthetic upgrades, and remerchandising of underutilized space to align with evolving consumer demand.

The partnership will drive long-term NOI growth through data-informed leasing and management designed to reinforce The Mall at Johnson City’s position as the Tri-Cities’ premier retail and lifestyle destination.

“Our investment strategy focuses on assets with solid fundamentals, clear upside potential, and the ability to unlock further value through active management, leasing expertise, and operational improvements,” added Spinoso. “We look forward to working alongside Tryperion Holdings to strengthen the property’s performance and long-term contribution to the region.”