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

As Terranova Turns 40, Founder Stephen Bittel Reflects On Florida’s Commercial Real Estate Development

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SOUTH FLORIDA REPORTER — JULY 3, 2020 — BY GUEST CONTRIBUTOR Across thriving cities, pockets of hyper-local communities exist, ebbing and flowing with their bespoke local economies, trends, job markets, and living spaces. With growing interest from potential residents and businesses alike, their growing neighborhood prosperity attracts the development of commercial space, public-use infrastructure, and community enriching lifestyle enhancements.

In South Florida, commercial real estate development has been spearheaded by Stephen Bittel, and his vehicle, Terranova Corporation.

On the precipice of Terranova’s 40th anniversary in August 2020, Bittel looks back on the incredible journey of building a commercial real estate juggernaut, evolving and modernizing Southern Florida’s local communities, and the future of commercial real estate.

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Stephen-Bittel-Headshot

People on the Move in South Florida

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SOUTH FLORIDA BUSINESS JOURNAL — JULY 1, 2020 — Stephen Bittel is founder and chairman of Terranova Corporation, one of the top commercial real estate firms in southern Florida and holds notable clients such as Morgan Stanley, BlackRock Realty, and Bank of America. A native of Miami, Bittel dedicates much of his time to serving his local community, holding the positions of trustee member for the Greater Miami Chamber of Commerce, board director for Jackson Memorial Hospital Foundation, and is on the advisory board of Teach for America Miami.

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Miami Beach’s Lincoln Road is betting on outdoor dining and culture. Locals are key.

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MIAMI HERALD — JUNE 19, 2020 — BY JANE WOOLDRIDGE When Timothy Schmand took over as executive director of the Lincoln Road Business Improvement District almost 2 1/2 years ago, the closest Miami had come to a pandemic was on a movie screen.

Lincoln Road, it seemed then, had more pressing problems. Commercial rents were soaring, forcing small businesses from Miami Beach’s signature pedestrian promenade, and the freewheeling ambiance of the Road seemed to be giving way to corporate slickness.

Last year, rates began to cool. As 2020 began, new local-market tenants were lining up, including Miami’s first Amazon four-star location – a concept where the store’s inventory includes only top selling items rated four-stars and above on amazon.com. Lincoln Road was also set to welcome its first hotels onto the promenade, and was set to close the installation of 13 monumental Botero sculptures erected in November 2019. And the BID was looking to finalize pre-construction process associated with a $67 million revitalization project designed by James Corner, the landscape architect responsible for New York’s High Line.

Then came COVID-19. Lincoln Road – and the rest of the country – went dark.

The BID pivoted to a recovery plan designed to support businesses while balancing public health concerns. In the “new normal,” attracting residents through experiential retail and unique, open-air activations will be even more critical to the Road’s strategic success

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