RETAIL REAL ESTATE
RESEARCH & STRATEGY

Market Intelligence That Drives Better Real Estate Decisions.

Retail real estate research and strategy for owners, developers, investors, and retailers who need a clearer, more grounded picture of their market.

BOTH SIDES OF THE TABLE

Most market intelligence practitioners understand either the owner's perspective or the retailer's. Rarely both. And very few have sat at the table as an owner.

My career spans all of it. I've spent more than 30 years in retail real estate research and strategy, helping owners and developers understand their markets, attract the right tenants, and make better leasing and repositioning decisions, and helping retailers evaluate locations, assess trade areas, and make confident real estate commitments.I co-founded Spinoso Real Estate Group, the largest third-party mall leasing and management firm in the country, managing a coast-to-coast portfolio. During my tenure we held joint venture interests in four enclosed malls, and I was directly involved in the due diligence, underwriting, and acquisition analysis of dozens of additional assets. Before Spinoso, I held senior research and strategy roles at Pyramid Companies and Wilmorite Management Group, where I built and led the market intelligence functions supporting leasing and development across multi-property portfolios.My background also includes significant ground-up retail development, with direct involvement in site selection, entitlement, financing, and tenant commitment. That hands-on experience gives me a developer's understanding of what it actually takes to get a project from concept to completion.That's the background I bring to every engagement.

MY EXPERIENCE

Organizations I've worked with, advised, or partnered with throughout my career:

THE PROBLEM

Good Real Estate Decisions Require Better Market Intelligence Than Most Organizations Have.

The stakes in retail real estate are too high to rely on incomplete market pictures, outdated trade area data, or assumptions about tenant demand that haven't been tested against reality.Whether you're evaluating an acquisition, underwriting a JV opportunity, repositioning an asset, building a leasing strategy, or assessing a new location, the quality of your decision is only as good as the market intelligence behind it.That's where I come in.

WHERE I HELP

Market Assessment & Feasibility
Trade area definition, demand analysis, market sizing, and feasibility evaluation to support leasing, development, and investment decisions.
Retail Landscape Analysis
In-depth assessment of the competitive retail environment for a specific asset or market, including tenant mix, positioning, void analysis, and market share dynamics.
Competitive Intelligence
Ongoing monitoring and analysis of competitor activity, market trends, and retail landscape shifts to keep ownership and leadership teams ahead of changes that affect asset strategy and positioning.
Tenant Demand Research
Direct outreach and analysis to assess retailer interest, expansion priorities, and site requirements for specific markets and assets.
Consumer Research
Shopper profiling, trade area penetration, competitive leakage, and consumer behavior analysis to support leasing and repositioning strategy.
Leasing Strategy & Support
Market-grounded leasing strategy, tenant targeting, and sales narrative development to help leasing teams compete and close.
Repositioning Strategy
Evidence-based strategic guidance for owners evaluating how to reposition, redevelop, or remix an asset in response to market realities.
Acquisition & JV Due Diligence
Market intelligence and feasibility analysis to support acquisition underwriting, joint venture evaluation, and investment decision-making.

WHAT SETS THIS WORK APART

Landlord and Retailer. I've Been Both.
Most advisors understand one side of the negotiating table. I've sat at both. I know what landlords need to make a compelling case and what it takes for a retailer to say yes, and I bring both perspectives to every engagement to deliver sharper, more actionable intelligence.
Owner, Developer, and Investor Perspective.
I've been an owner, developer, and investor, not just an advisor to them. Co-founding Spinoso included JV interests in four enclosed malls and hands-on involvement in the due diligence and underwriting of dozens of acquisition targets. My background also includes significant ground-up retail development, with direct involvement in site selection, entitlement, financing, and tenant commitment. I understand how owners, developers, and investors evaluate opportunities because I've been in those seats.
Tested Across Market Cycles.
Co-founding and leading Spinoso Real Estate Group meant operating through the aftermath of the 2008 financial crisis, the rise of e-commerce disruption, and the pandemic's impact on retail, all while managing a coast-to-coast retail portfolio. That experience across multiple market cycles informs how I read markets, assess risk, and help clients make decisions that hold up over time.
Independent and Objective.
I have no leasing commissions, no brokerage relationships, and no financial stake in any outcome. That independence means my analysis isn't colored by what anyone needs the answer to be. I'll find the strengths in your asset, even the ones that aren't obvious, and I'll be straight with you about the weaknesses. That combination is what makes the work valuable.
Senior-Led, Start to Finish.
Every engagement is handled personally by me. The person you hire is the person who does the work, start to finish. No junior analysts, no hand-offs, no drop in quality between the pitch and the deliverable.

ABOUT ME

Tom Herman

Tom Herman

Founder, Veda Intell
Co-Founder, Spinoso Real Estate Group

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I'm Tom Herman, a retail real estate research and strategy practitioner with more than 30 years of experience across leasing, development, acquisitions, and market intelligence. My career began on the retail side as a market research analyst for a publicly traded retailer, then progressed through senior research and strategy roles at Wilmorite Management Group and Pyramid Companies before co-founding Spinoso Real Estate Group in the aftermath of the 2008 financial crisis. Over a decade at Spinoso we grew from two people to more than 120 employees, built an eight-figure revenue business, and operated a coast-to-coast portfolio that included joint venture interests in four enclosed malls.

I started this practice to put that experience directly to work for owners, developers, investors, and retailers who need a more grounded, evidence-based picture of their market. Every engagement gets the same discipline: go directly to the market, find out what's actually true, and give you the clarity to act on it.

Let's Talk

If you own, operate, develop, invest in, or lease retail real estate and need market intelligence you can actually make decisions on, I'd welcome a conversation. A brief call is usually enough to clarify whether and how I can help.Prefer to schedule directly?

Or share a few details and I'll follow up soon.

© VedaIntell, LLC. All rights reserved.

Thank you!

Thanks for reaching out. I'll be in touch soon.

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