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

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.”


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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Bittel Announces $7.9 Million of New Terranova Leases

MIAMI BEACH, FL – DECEMBER 16, 2020 – Terranova’s Chairman, Stephen Bittel has announced eighteen new tenants totaling 26,245 SF for a total value of $7.9 million opening in two of its most important urban market areas in Miami-Dade County – Coral Gables’ Miracle Mile and Miami Beach’s Lincoln Road, the coveted world-famous pedestrian thoroughfare. 

Leasing during COVID has been strongly led by the exceptional effort of Terranova President, Mindy McIlory. On Lincoln Road, three new pop-ups, a full-service restaurant, four new food hall purveyors, and a rooftop lounge embracing the diversity of Miami Beach’s local and tourist populations, join the vibrant mix of dining destinations and retail outlets on the Road.  At the same time, Coral Gables welcomes two new restaurants, six artist studios, and a library to Miracle Mile. 

This eclectic group of new retailers and restaurant, carefully selected for their local flavor, include:

Plant Daddy, your neighborhood retail garden center, opened a 348 square foot space at 808 North Lincoln Lane. Owner Gabriel Diaz, nicknamed the Plant Daddy, launched the concept in June in honor of his late mother.

– Jozy DeFord opened her 348 square foot vintage shop, Renegade Rustlers at 804 North Lincoln Lane. An established merchant in the Lincoln Road Antique Market, DeFord’s first brick-and-mortar location opened October 23rd.

Sol + Sorbet is the newest pop-up retailer now open at 816 North Lincoln Lane. Created by Miami Beach resident Gina Kravitz in 2018, Sol + Sorbet is a resort wear and swimwear brand. At 260 square feet, the retail micro unit is a relatively new phenomenon Lincoln Road. 

The Sexy Cow, a full-service Latin steak and churrascaria style restaurant is expected to open Spring 2021 at 809 Lincoln Road.  With a menu featuring salads, sandwiches, steaks, seafood, pizza and pasta, the modern eatery will be open for breakfast, lunch and dinner and encompass 1,346 square feet and outdoor seating on the world-famous promenade.

Simply Good Pizza, Cilantro 27 helmed by Chef Nilton Castillo, and the instagramable Market Milkshake Bar round out the food offerings at The Lincoln Eatery, Miami Beach’s first modern food hall located on Meridian Avenue and N. Lincoln Lane. The new bar, Miami Vice Canteen, and rooftop lounge, Sky Yard, were created by Miami Beach locals and hospitality veterans at Knock Out Hospitality Group.

Miracle Mile – downtown Coral Gables’ pedestrian friendly major retail corridor, is also welcoming a number of exciting new merchants to The City Beautiful mix.

– While the Miami-Dade County Coral Gables Branch Library undergoes renovations, the Library will be opening a 2,242 square foot storefront at 308 Miracle Mile. The highly visible, well-located commercial retail space was selected because of its accessibility from surrounding commercial and residential development, overall foot traffic, and proximity to the existing Coral Gables Branch library.

– Terranova, in partnership with the Coral Gables Business Improvement District, launched Studios on the Mile on October 1st. Encompassing six different spaces for a total of 8,655 SF on the 200 block of Miracle Mile, various artists have converted the spaces to working studios and galleries. From highly regarded contemporary painter and sculpture, Carlos Luna to high school graduates awarded the Isaiah Fund Scholarship, the artist studios and galleries will be on display until December 31st.

Seasy Mediterranean, a new restaurant concept from Made in Napoli Hospitality offering ‘easy’ cuisine from the Mediterranean ‘sea’, will be opening their 2,592 SF restaurant this November at 136 Miracle Mile. Seasy Mediterranean will serve healthy seaside options in addition to traditional Italian seafood at popular prices.

– Popular South Florida concept Sushi Sake continues its domination of their neighborhood sushi bar with the launch of its 15th location at 202 Miracle Mile next year. Created by brothers James and Argelio Jr Aguayo 11 years ago, Sushi Sake signed a 10-year lease for 2,600 square feet. Sushi Sake’s expansive menu includes sushi and sashimi, teriyaki, hibachi, topped off with a variety of signature sauces and a selection of Sake.

Tamaria, a Jazz House serving healthy international cuisine has signed a three-year lease for 1,497 SF square feet at 208 Miracle Mile. Expected to open in 2021, Tamaria will offer breakfast, lunch and dinner.

“We wanted to provide an opportunity to small businesses, restauranteurs and artists to locate themselves in a bustling and enviable location, create increased activity, and simultaneously fill vacancies created by long-term shutdowns,” says Terranova’s chairman and founder Stephen Bittel. “Despite the ongoing pandemic, the South Florida’s retail real estate market is healthy and active.”



Terranova Corporation, South Florida’s leading commercial real estate firm, is involved with nearly $1 billion in commercial real estate assets for its partners and its own portfolio. Terranova’s comprehensive array of services include high street retail, leasing & property management and acquisitions/joint ventures. Services are offered to a select group of partners/clients who count on us to maximize the value of their real estate.