GLASGOW ARCHITECTURE — AUGUST 4, 2020 As the Founder and CEO of Southern Florida’s Terranova Corporation, a leading multi-service commercial real estate development firm, Stephen Bittel has witnessed the impact that hyperlocal economies have on particular regions. For forty years, Bittel’s constant evolution, modernization, and revitalization of commercial real estate has directly manifested change within communities.
Championing the cycle of prosperity that is born from increased local commercial activity, Bittel has long been a proponent for modernizing the rise of the “live-work-play” downtown environment, creating diverse and successful communities, even in the age of online shopping. Now, as his native South Florida, and the country at large, recovers from the devastating effects of the COVID-19 pandemic, Stephen Bittel looks to hyperlocal economies, local trends and community cultures, and the reinvestment in robust downtown areas to re-launch the “new normal”.
Local Business’ Pre-Pandemic Evolution
Long before the words “social distancing” became a household phrase, and mode of daily operations, commercial businesses began dealing with other issues that ultimately led to the modernization of hyperlocal shopping districts. According to Stephen Bittel, the rise of online shopping culture necessitated the evolution of traditional commerce. As businesses began to see soaring numbers of online shoppers, many traditional brick-and-mortar storefronts began to shudder. To combat the potential death of traditional commerce, experts like Bittel listened to emerging consumer trends, considered changes in peoples’ lifestyles, and created modern experiences to draw in crowds seeking a new, immersive, and comprehensive shopping “experience”.
Controlling over $1 billion in commercial real estate assets, Bittel and Terranova Corporation led the charge to modernize southern Florida’s premier shopping destinations, creating a comprehensive experience that saw flocks of local residents exploring hyperlocal destinations for their retail, hospitality, and recreational needs. Stephen Bittel’s Terranova Corporation erected functional outdoor-based experiences that drew in local and national tenants, creating a one-stop-shop for individuals to purchase essentials, treat themselves to al fresco lunch, purchase a coveted handbag, and see a movie after a day of perusing each retail area’s particular offerings.
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Real Estate Developer Stephen Bittel On How Hyperlocal Economies
/in In the newsGLASGOW ARCHITECTURE — AUGUST 4, 2020 As the Founder and CEO of Southern Florida’s Terranova Corporation, a leading multi-service commercial real estate development firm, Stephen Bittel has witnessed the impact that hyperlocal economies have on particular regions. For forty years, Bittel’s constant evolution, modernization, and revitalization of commercial real estate has directly manifested change within communities.
Championing the cycle of prosperity that is born from increased local commercial activity, Bittel has long been a proponent for modernizing the rise of the “live-work-play” downtown environment, creating diverse and successful communities, even in the age of online shopping. Now, as his native South Florida, and the country at large, recovers from the devastating effects of the COVID-19 pandemic, Stephen Bittel looks to hyperlocal economies, local trends and community cultures, and the reinvestment in robust downtown areas to re-launch the “new normal”.
Local Business’ Pre-Pandemic Evolution
Long before the words “social distancing” became a household phrase, and mode of daily operations, commercial businesses began dealing with other issues that ultimately led to the modernization of hyperlocal shopping districts. According to Stephen Bittel, the rise of online shopping culture necessitated the evolution of traditional commerce. As businesses began to see soaring numbers of online shoppers, many traditional brick-and-mortar storefronts began to shudder. To combat the potential death of traditional commerce, experts like Bittel listened to emerging consumer trends, considered changes in peoples’ lifestyles, and created modern experiences to draw in crowds seeking a new, immersive, and comprehensive shopping “experience”.
Controlling over $1 billion in commercial real estate assets, Bittel and Terranova Corporation led the charge to modernize southern Florida’s premier shopping destinations, creating a comprehensive experience that saw flocks of local residents exploring hyperlocal destinations for their retail, hospitality, and recreational needs. Stephen Bittel’s Terranova Corporation erected functional outdoor-based experiences that drew in local and national tenants, creating a one-stop-shop for individuals to purchase essentials, treat themselves to al fresco lunch, purchase a coveted handbag, and see a movie after a day of perusing each retail area’s particular offerings.
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Mediterranean restaurant to open on Miracle Mile in Coral Gables
/in In the news, LeasingSOUTH FLORIDA BUSINESS JOURNAL— JULY 31, 2020 — BY MATTHEW ARROJAS Seasy Mediterranean is set to open later this year on Coral Gables’ popular Miracle Mile.
The eatery, from Italy-born, Miami-based Made in Napoli Hospitality, signed a lease for 2,595 square feet at 136 Miracle Mile. The group agreed to a three-year term with Miami Beach-based Terranova Corp. Restaurant owner Giovanni Maglione said he plans to open in November.
The space was previously occupied by BurgerFi, which closed last year. The space went on the market October 1, 2019, Terranova President Mindy McIlroy said.
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Stephen Bittel’s Terranova Developing Downtown Cores in Miami
/in In the newsPATCH.COM— JULY 23, 2020 — BY SEAN BUBB As the founder and chairman of one of the top commercial real estate firms in southern Florida with over 40 years experience, Stephen Bittel knows the industry. A native of Miami whose family has lived in the city for generations, Bittel has used this knowledge of his hometown in combination with a shrewd intuition for trends within the real estate market to build Terranova, a company that has served as the exclusive agent for more than $5 billion worth of commercial projects throughout Florida. Starting in the 1980’s by building a large portfolio of properties in municipalities near Miami, Bittel’s company heavily invested in suburban shopping centers during a time when young families in search of more space were moving further and further out of the city. However, in the early 2000’s Bittel’s sharp instinct told him that younger generations were beginning to see the benefits a more urban lifestyle could bring and began purchasing commercial properties in up-and-coming urban centers such as Miami Beach and Coral Gables.
As perceptive as Bittel is when it comes to southern Florida real estate, nobody could have predicted that 2020 would bring about a pandemic that would see the country — and the world — grind to a halt. With people maintaining their distance from each other and businesses struggling to operate during a time when every contact with someone outside of your home poses some form of risk, some are predicting this could mark the beginning of a mass exodus back to the suburbs. However, the thoughtfulness and care put into developing the urban streetscapes of the greater Miami area by companies like Terranova mean they are well positioned to continue to add value to those living near them.
Although Bittel entered college believing he would follow in his father and grandfather’s footsteps and become a lawyer, he developed a keen interest in business while studying economics for his undergraduate degree. He went on to attend the University of Miami School of Law, but started Terranova in 1980 during his first year of law school after seeing an opportunity to get in the real estate market and seizing it. He managed to grow his company considerably from his home office while also completing his law degree and passing the bar exam, and after surviving the real estate market recession of the late 1980’s the company continued its expansion into the municipalities of South Florida.
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