Not So Lonely At The Top: Why Miami Real Estate Is ‘Very Much Ahead’ On Elevating Women Leaders

BISNOW  – March 8, 2023

Women don’t rise to leadership roles by accident or coincidence — just like their lack of opportunities in most industries and cities isn’t an accident. Beth Azor and Trish Blasi, the founder of Borghese Investments, both came up at Terranova Group, where many of Miami’s female leaders have worked over the years.

Azor, the founder of Azor Advisory Services, credited Terranova Group founder Stephen Bittel as a mentor who made sure she had every opportunity to succeed.

“Why he was so amazing was anything you wanted to do, he said I’ll help you,” Azor said. “He’s the one who helped me go to a bank and co-signed a loan to help me invest in my first commercial real estate property. I wouldn’t have been in investment today without that. There was no glass ceiling for him. He ran a meritocracy.”

Blasi was Terranova’s president before leaving to found her own firm. Its president today, Mindy McIlroy, got her start at the company as an executive assistant in 1997.

“I had no plans to be involved in the real estate business, but the company president approached me and asked if I would consider transferring to a sales role in the leasing department. It seemed like a good idea at the time and has proven to be the best decision I have ever made,” she wrote in an email. “Every day I give thanks for saying ‘Yes’ to the opportunity.”


Breathing New Life Into Coral Gables’ Miracle Mile While Staying True to its Roots

In News Weekly, by Josh Wienmen  – December 23, 2022

It can sometimes be a bittersweet thing to witness the ebbs and flows of a city. The longer you are connected to a place the more it becomes a part of who you are, and even when it is experiencing new growth it can be difficult to say goodbye to aspects of it that get left behind in the process. Change is an inevitable fact of life, and yet it isn’t easy to face. All one can do when observing changes to an area is hope that the original spirit is kept alive through them.

That has been the goal of Stephen Bittel’s Terranova Corporation and the others who own properties on Coral Gables’ historic Miracle Mile. The coastal city itself has traditionally placed a high priority on historic preservation, and as the central artery for its downtown area Miracle Mile plays an essential role in the city’s culture and heritage. Owning a number of buildings on the stretch, Terranova has not taken its responsibilities to the original character and charm of Miracle Mile lightly, working to bring in businesses that simultaneously stimulate growth for the city while also remaining true to its history.

Case in point, the recently celebrated reopening of John Martin’s at 253 Miracle Mile, a property owned by Terranova. Originally one of South Florida’s longest-running restaurants, the Irish-themed pub was forced to shutter in April of 2020 due to the coronavirus pandemic and was never able to open its doors again even after restrictions had been lifted. Emi Guerra and Alex Mantecon are the new leaders of Breakwater Hospitality Group, under their leadership, the bar has been given some rejuvenating updates while maintaining the original spirit of the pub.



Miami Beach Becoming a ‘One-Stop Shop’ for Executives, Driving CRE Investment

ALM LAW.COM, by Melea VanOrstand  – “From November of 2021 to November 2022, the road got 8 million people,” said Mindy McIlroy, president of Terranova Corp.

The continuing influx of new-to-market residents and travelers to Miami Beach and the Lincoln Road District has led to an increase in real estate and hospitality investments.

A huge increase in foot traffic is contributing to the growth of businesses, according to Mindy McIlroy, president of Terranova Corp.

“From November 2021 to November 2022, the road got 8 million people. So that’s a lot of people that have trafficked Lincoln Road, which we think is terrific,” she said. “With the wealth migration coming from the Northeast, we’re also seeing a lot of retailers that are interested in traveling down south as well that follow their customers, so there have been more stores that are opening on Lincoln Road, that have bases in the Northeast area.”

As McIlroy sees it, anytime there is a new office or hospitality business in a district, it draws in more residents and guests.

“They’re enjoying breakfast before they go to work, they’re shopping and going out to lunch, they’re staying in the district later to enjoy the activities Miami Beach and Lincoln Road have to offer,” McIlroy said. “It’s a great thing for Miami Beach to have all of this new development happening in and around Lincoln Road.”

Lincoln Road has an occupancy rate of more than 85%. Many premier retail and restaurant brands are choosing the area due to its iconic significance and the destination’s strong post-pandemic recovery, McIlroy said.