COMPANY LEADERS — AUGUST 24, 2020 Founded in 1980, multifaceted real estate development and management firm Terranova Corporation has enjoyed steady growth in Florida’s commercial real estate sector. From its inception, the company focused on growing an impressive portfolio, providing unparalleled customer service for managed assets, and maximizing the growth potential for businesses. As the company prepares to celebrate its 40th birthday, Founder Stephen Bittel reflects on Terranova’s growth and his commitment to evolving the commercial real estate sector. Throughout this successful venture, Bittel has guided his team forward by recognizing the potential of various types of assets, listening to consumer demand, and watching trends emerge. Now, Bittel looks to the current national climate to determine Terranova’s next steps and commercial real estate’s future.
As a leader, Stephen Bittel has been committed to taking chances, and recognizing the potential in building strong long-term relationships with tenants. Under his leadership, the potential of these relationships has been recognized via multi-unit deals, impressive long-term professional endeavors, and a loyal following from some of the biggest names in retail and commerce. Bittel has personally overseen all facets of operations since the inception of Terranova, using his expertly honed eye for potential to leverage continued growth, development, and success. Growing his team to nurture the talent and potential of co-workers, Bittel has worked to inspire, mentor, and grow his team from the ground up. Now, he looks to the future of Terranova, and his ongoing quest for recognizing the potential in human talent, commitment to excellence, and the forging of long-term relationships.
Terranova’s Beginning
During his second year at the University Of Miami Law School, Stephen Bittel entered the realm of commercial real estate management. Asked to operate a commercial space for a local partnership, Bittel swiftly recognized that he could maximize revenue, streamline operations, and effectively manage the property. He founded Terranova Corporation and set forth to invest in a commercial property of his own. In 1980, Florida’s commercial real estate sector was heavily monopolized by unanchored strip malls.
He initially invested in two commercial shopping centers on Sunset Drive and garnered three more properties in collaboration with other investors. In charge of operations, management, and growth of these commercial properties, Bittel grew his reputation quickly. He was committed to exceeding expectations, enhancing management-tenant relationships, and securing additional tenant relationships through multi-unit deals. By exceeding tenant expectations from the beginning, Bittel recognized the potential prospects of future business ventures.
CLICK HERE FOR THE FULL ARTICLE
Terranova Corp.’s Stephen Bittel Reflects on the Importance of Recognizing Potential
/in General, In the newsCOMPANY LEADERS — AUGUST 24, 2020 Founded in 1980, multifaceted real estate development and management firm Terranova Corporation has enjoyed steady growth in Florida’s commercial real estate sector. From its inception, the company focused on growing an impressive portfolio, providing unparalleled customer service for managed assets, and maximizing the growth potential for businesses. As the company prepares to celebrate its 40th birthday, Founder Stephen Bittel reflects on Terranova’s growth and his commitment to evolving the commercial real estate sector. Throughout this successful venture, Bittel has guided his team forward by recognizing the potential of various types of assets, listening to consumer demand, and watching trends emerge. Now, Bittel looks to the current national climate to determine Terranova’s next steps and commercial real estate’s future.
As a leader, Stephen Bittel has been committed to taking chances, and recognizing the potential in building strong long-term relationships with tenants. Under his leadership, the potential of these relationships has been recognized via multi-unit deals, impressive long-term professional endeavors, and a loyal following from some of the biggest names in retail and commerce. Bittel has personally overseen all facets of operations since the inception of Terranova, using his expertly honed eye for potential to leverage continued growth, development, and success. Growing his team to nurture the talent and potential of co-workers, Bittel has worked to inspire, mentor, and grow his team from the ground up. Now, he looks to the future of Terranova, and his ongoing quest for recognizing the potential in human talent, commitment to excellence, and the forging of long-term relationships.
Terranova’s Beginning
During his second year at the University Of Miami Law School, Stephen Bittel entered the realm of commercial real estate management. Asked to operate a commercial space for a local partnership, Bittel swiftly recognized that he could maximize revenue, streamline operations, and effectively manage the property. He founded Terranova Corporation and set forth to invest in a commercial property of his own. In 1980, Florida’s commercial real estate sector was heavily monopolized by unanchored strip malls.
He initially invested in two commercial shopping centers on Sunset Drive and garnered three more properties in collaboration with other investors. In charge of operations, management, and growth of these commercial properties, Bittel grew his reputation quickly. He was committed to exceeding expectations, enhancing management-tenant relationships, and securing additional tenant relationships through multi-unit deals. By exceeding tenant expectations from the beginning, Bittel recognized the potential prospects of future business ventures.
CLICK HERE FOR THE FULL ARTICLE
IdeaMensch Interview with Stephen Bittel
/in In the newsIDEAMENSCH — AUGUST 21, 2020 — BY STEFAN JUNGE Stephen H. Bittel is the Chairman and founder of Terranova Corporation, leading the firm’s ownership and operation of a significant commercial real estate portfolio. As the South Florida real estate has grown, Bittel has stayed connected to South Florida, serving his community for years. A Miami native, he has served on the Boards of the Chapman Partnership, the Miami-Dade Expressway Authority, Teach for America (TFA),and Jackson Memorial Hospital Foundation. Bittel also has served as a Trustee member for the Greater Miami Chamber of Commerce, United Way of Miami-Dade and Temple Beth Am. He has led the Greater Miami Jewish Federation’s Washington Mission in 2009 and 2010 and is an active supporter and currently serves on the Advisory Board of Achieve Miami. Bittel graduated Magna cum laude from Bowdoin College in 1978 and obtained his law degree from the University of Miami School of Law in 1982
Where did the idea for Terranova Corporation come from?
While a senior at Bowdoin College, I was awarded a prestigious Watson Fellowship, to undertake a “wanderjahr”, a wander year of travel to study the motivations behind European Investment in the United States. This project followed up on a previous paper written while working at the Congressional Budget Office in D.C. on the Tax Treatment of Non-Resident Investors. A meaningful part of my study involved regular meetings with investment advisors and bankers throughout Europe. I was struck by the private banking model which provided a one-stop personalized service to high net worth individuals. My goal was to replicate this kind of service for offshore investors focused on the United States.
What does your typical day look like and how do you make it productive?
I tend to wake up very early, grind my own coffee beans, make my coffee, read a while and then exercise, all by 9. I am usually communicating with our team continuously after 7:30, getting us all focused and the challenges of the day. Our portfolio spans many different operating companies in different industries across a broad geography. I mentally scroll through each of the companies, generating questions on the status of pending matters. I next jump on the phone in the morning before heading to the office in the late morning. Lunch is a time for sharing ideas with our team, usually in the office or at one of our restaurant tenants or at our Lincoln Eatery Food Hall just off Lincoln Road. The afternoon is usually filled with meetings, more calls and internal reviews of new investment opportunities. The day typically ends with a dinner, where I always try to bring the wine from our home cellar, but not before a disciplined decanting process in the office pre-dinner. It’s usually lights out between 9:30 and 10:00 to get ready for the next day. After a lifetime of sleeping 4 to 6 hours a night, I have matured to enjoying a more normal night’s sleep.
CLICK HERE FOR THE FULL ARTICLE
40 Years of Business, 40 Years’ Worth of Advice
/in In the newsTHRIVE GLOBAL — AUGUST 10, 2020 During my sophomore year at University of Miami School Of Law, I founded Terranova Corporation as the vehicle to operate a commercial property for a local partnership. Since the company’s 1980 inception, Terranova has become a leader in the Florida commercial real estate market. By maximizing the value of business through real estate, I was able to establish trust, forge professional relationships, and leverage profit for tenants on a long-term basis. This was the founding principle of Terranova Corporation, and a personal mission statement that propelled my leadership.
Now, the company’s commercial real estate portfolio holds in excess of $1 billion dollars in assets, and Terranova was proudly the agent for over $5 billion dollars in commercial real estate throughout Florida. As I celebrate the 40th anniversary of Terranova Corporation, I find myself immersed in the lessons that I have learned, the skills that I have perfected, and the professional decisions that led to ongoing growth. Each year of business brought forth new challenges, changes, and opportunities, and allowed me to grow alongside my business. Below, I recount the most notable lessons throughout my venture, and lend advice to any fledgling entrepreneur or business owner.
Know What You Stand For
Both personally and professionally, your company’s mission statement will be your guiding principle. Through inception and beyond, you will find those goals and incentives tested, and you will garner opportunities to stray from the plans you initially forged. Thus, it is vastly important to iron out the most important mission statements for your business. Whether your goals include maximizing earning potential for clients, maintaining highly ethical practices in the face of challenging times, or establishing long-term professional relationships, solidifying these guiding principles will help to keep you on the right path in the future.
CLICK HERE FOR THE FULL ARTICLE