The latest of what’s going on from Terranova’s office to yours.

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Miami’s First-Ever Carbon-Neutral Building Announced, with Glass that Generates Electricity

THE NEXT MIAMI – September 13, 2022 In Coral Gables, a developer has announced plans for a mixed-use building that will be built with photovoltaic glass.

The electricity-generating glass will combine with other features will help to make it the first carbon-neutral building in Florida, developer Terranova Corporation says.

In addition to generating power, the high-performance glass will insulate the building, said Arquitectonica founder Bernardo Fort-Brescia, who is designing the building.

A high-tech battery system is planned to collect and store the solar energy, and will be used to operate systems including elevators.

There will also be new air conditioner technology installed that needs just 30% of the energy compared to conventional A/C systems.

The building will be known as 93 Miracle Mile.

“93 Miracle Mile will be a revolutionary project,” said Stephen Bittel, the founder and chairman of Terranova.

Bittel said he expects the building to be a blueprint for other developers and city planners.

The four-story building will have 36,482 square feet of space. There will be restaurant on the ground floor, retail on the second and third levels, and office space on the fourth level. A rooftop terrace will be covered with a trellis.

The building would be the first to be built under Coral Gables’ new Miracle Mile Overlay code, and fully complies with zoning rules. The design includes stone cladding and a rooftop suspended orchid garden.

Construction is expected to begin as soon as city approvals and permits are obtained, with delivery one year later.

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Terranova’s Stephen Bittel Announces New Lease Signed with Lumas Art on Lincoln Road, as Part of Plan to Bring More Arts and Culture-Oriented Businesses to the Area

PR NEWSWIRE — SEPTEMBER 9, 2021 — Terranova Corporation Chairman Stephen Bittel announced the completion of a lease deal for a 3,625 SF space for art retailer Lumas Art at 737 Lincoln Road, further evidencing the trend in business owners seeking to cater to the growing number of residents, tourists and other visitors flocking to the area.

“As part of our commitment to the City of Miami Beach, we are pleased to welcome Lumas Art, which is consistent with the missions of Terranova, the Lincoln Road Business Improvement District, and the City of Miami Beach to bring more arts and culture-oriented businesses to Lincoln Road,” Bittel said.

Additionally, Bittel also announced several other new Lincoln Road leases, including:

Plant Daddy doubling its square footage for a one-year lease term

Sol + Sorbet renewing for an additional six months at 821 Lincoln Road

New tenant Pop-Up & Shop-Up, which is the first retail tenant to join the Lincoln Eatery food hall at 723 N Lincoln Lane. The food hall is an innovative space where emerging small businesses may showcase their products on a weekly or monthly basis.

“We are happy to continue to bring new activity and investment to Lincoln Road, which is a unique gem in Miami Beach,” Bittel added. “The Miami Beach market remains strong and positioned for continued growth considering the ongoing migration of local and new-to-market businesses, residents and tourists to the area.”

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Terra & Terranova Sell Former PepsiCo Bottling Plant in Doral, Florida for $55 Million

MIAMI, FL – February 8, 2021 – Three years after purchasing PepsiCo’s regional headquarters and distribution facility in Doral, Florida, Terra and Terranova Corporation, led by David Martin and Stephen Bittel respectively, have sold the 23.7 acre site for $55 million. Terra and Terranova initially acquired the site for $40 million in January 2018 and subsequently leased the property back to PepsiCo through July of 2020. The transaction, which represents a price of $2.3 million per acre of land, marks a top price for industrial real estate in South Florida.

The buyer shares a Santa Monica address with GLP Capital Partners, or GCP, an investment firm that specializes in logistics properties. The company is led by Alan Yang, the former chief investment officer of Singaporean global investment manager GLP.

The sale coincides with South Florida’s emergence as one of the country’s top-performing industrial real estate markets. The market has been fueled in large part by the growth of e-commerce, with more than 2 million square feet of space leased by e-commerce companies in 2020.

Located at 7777 Northwest 41st Street, the 23.7 acre site benefits from proximity to the South Florida region’s major expressways, offers direct frontage along the Palmetto Expressway, is located less than two miles from Miami International Airport, and is a short drive from some of Miami-Dade County’s largest and most in-demand residential and commercial submarkets. The property is zoned for industrial development and can accommodate up to 500,000 square feet of commercial space.

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About Terranova:

Terranova Corporation, South Florida’s leading commercial real estate investment firm for over 40 years, currently is involved with commercial real estate assets for its clients and its own portfolio valued at more than $1 billion. Learn more at www.terranovacorp.com.