Current media coverage and upcoming developments hand-picked from the industry.

Stephen-Bittel-Human-Connection

What Hedgehogs can Teach us about Human Connection and Combating Loneliness

THRIVE GLOBAL — OCTOBER 19, 2020 — During a pandemic, it’s natural that a lot of us have felt lonely at some point. Whether that feeling is from living alone and suddenly having to work remotely, or spending 24/7 with your family instead of your like minded colleagues; it’s all rooted in a feeling of disconnection. In fact, the feeling of loneliness can exist regardless of the amount of social contact you engage in. What most of us don’t realize is that loneliness isn’t just unpleasant, it can also have serious health consequences. According to the CDC, loneliness significantly increases a person’s risk of premature death, is associated with about a 50% increased risk of dementia and a 29% increased risk of heart disease.

Although seemingly unrelated, hedgehogs actually serve as a metaphor for human relationships – a metaphor first articulated by philosopher Arthur Schopenhauer and later expanded into a psychological concept by Sigmund Freud called the hedgehog/porcupine dilemma. The parable by Schopenhauer serves as an incredible allegory for how humans navigate human connection through the back and forth pendulum swinging motion between guardedness and intimacy. In the parable, Schopenhauer describes the way hedgehogs huddle together for warmth on a cold day. As you can imagine, there is a real truth to the saying “too close for comfort” in this equation. Their quills begin to prick each other, so they disperse. Then they become cold again, and the cycle repeats. Finally, the porcupines discover that, by having a little distance between one another, they could find a balance – close enough to share in a collective warmth, but enough distance to protect from the pricks of proximity. 

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Terranova’s Stephen Bittel on Revitalizing Lincoln Road Shopping for a Pre-Holiday Boost

PROGRAMMING INSIDER — OCTOBER 6, 2020 — Miami’s Lincoln Road has become a hotspot for world-class shopping, dining, and entertainment. Along the famed street, hundreds of desirable retailers, chef-centric restaurants, and conceptually-driven bars have seen countless tourists, locals, and adventurers alike. With continued development and improvement from commercial real estate companies like Terranova, this area became a mecca for day trips, shopping, dining, and celebrating. As the global spread of the COVID-19 pandemic has continued to affect the retail, hospitality, and travel industries, these once-booming businesses worked to stay afloat against constantly changing conditions. Stephen Bittel, Founder, and Chairman of Terranova touted that many businesses remained flexible during this time. Restaurants transitioned to take-out models, while retail stores welcomed “buy online, pick up in-store” models. Now, as conditions continue to evolve, businesses along Lincoln Road are working to revitalize the famed hotspot. In time for a pre-holiday boost, Lincoln Road is preparing for pop-up shops that will attract customers, and welcome back shoppers.

The Pre-Holiday Pop-Up Program

To help small businesses regain foot traffic and increased activity, and simultaneously fill vacancies created by long-term shutdowns, the Lincoln Road Business Improvement District has announced the launch of a new pre-holiday pop-up shop program. The program will rely on short-term leases, allowing seasonal small business owners the opportunity to occupy a premium space for a shorter amount of time. For fledgling business owners, and seasonal specialty owners, this opportunity allows small business owners to open up in a highly desirable shopping destination. According to Stephen Bittel, pop-up shops are a great way to bring in exciting new retailers that will drive activity, without the requirement of a long-term lease commitment. Bittel’s Terranova Corporation owns and manages several retail locations along Lincoln Road, and welcomes the pre-holiday pop-up program.

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Lincoln Road pop-up

Pre-holiday pop-up shops bring new life to Lincoln Road – and fill empty spaces

MIAMI HERALD — SEPTEMBER 28, 2020 — BY REBECCA SAN JUAN Lincoln Road is getting a trio of new pop-up shops.

To help small businesses and fill a growing number of retail vacancies, the Lincoln Road Business Improvement District has launched a pre-holiday pop-up program. So far, three small business owners have signed leases.

The Lincoln Road BID approved the program in early September. Retailers submit an application for a 90-day lease, said Tim Schmand, BID executive director. Schmand reviews applications and connects applicants with landlords. Lease rates are often less than the going price for annual contracts.

The BID is aiming to fill vacant storefronts before the holiday season. Although Lincoln Road signed several new retailers last year, occupancy rates have dropped by 8% since December 2019, from 82% to 74%, Schmand said. Of its total 250 storefronts, about 60 spaces are empty.

“The goal of the program is to get interesting, cutting-edge retailers onto Lincoln Road. If we get four interesting retailers on Lincoln Road, then that’s a home run,” Schmand said.

Some landlords are charging less for pop-ups than the current average asking rates. Stephen Bittel, chairman and founder of Terranova and owner of several commercial spaces on Lincoln Road, is asking for about $80 per square foot for short-term leases versus $250 per square foot for annual contracts.

“It pays for the operation costs but we make no profit,” Bittel said. “[But] if the tenant wanted to enter in a long-term lease, we could extend the pop-up for the next 90 days. Our goal is to keep the street as occupied as possible.”

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