ALM Globest.com, by Tasha Norman – January 11, 2023
Terranova Corp. founder and chairman Stephen Bittel has dedicated his life to building his business, while promoting the livelihood of his hometown through active involvement.
Stephen Bittel, 66, founder and chairman of Terranova Corp. in Miami Beach, FL. Stephen Bittel is a fixture in both the real estate industry and the community of Miami, FL. With deep roots in the southern coastal city, Bittel has dedicated his life towards not only building his business to be one of the top commercial real estate firms in South Florida (for which in 2005 he was awarded the South Florida Business Journal “Ultimate CEO” award), but also promoting the livelihood of his hometown through his active involvement in it.
Area of expertise or focus: Commercial real estate and private equity investments/capital markets.
How have you overcome obstacles in your industry? The best way to overcome any obstacle in this industry is to build a team with a shared commitment to excellence and a joint belief in consistent hard work.
What about your current role at the company are you most happy with? I am very proud of the senior leadership team we have built over the years. Everyone is well aligned, enabling us to achieve the best results possible in a constantly shifting and challenging market.
What is the best piece of advice you have received that has helped you succeed in your industry, and do you have any advice specifically for the next generation? A common misconception — but balance is not a lifestyle. It is something that happens in a bank account after a lot of hard work. My advice is to outwork your competition consistently so you can outperform them again and again.
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Pay It Forward: “Outwork Your Competition Consistently”
/in Bittel on Business, Giving BackTerranova Corp. founder and chairman Stephen Bittel has dedicated his life to building his business, while promoting the livelihood of his hometown through active involvement.
Stephen Bittel, 66, founder and chairman of Terranova Corp. in Miami Beach, FL. Stephen Bittel is a fixture in both the real estate industry and the community of Miami, FL. With deep roots in the southern coastal city, Bittel has dedicated his life towards not only building his business to be one of the top commercial real estate firms in South Florida (for which in 2005 he was awarded the South Florida Business Journal “Ultimate CEO” award), but also promoting the livelihood of his hometown through his active involvement in it.
Area of expertise or focus: Commercial real estate and private equity investments/capital markets.
How have you overcome obstacles in your industry? The best way to overcome any obstacle in this industry is to build a team with a shared commitment to excellence and a joint belief in consistent hard work.
What about your current role at the company are you most happy with? I am very proud of the senior leadership team we have built over the years. Everyone is well aligned, enabling us to achieve the best results possible in a constantly shifting and challenging market.
What is the best piece of advice you have received that has helped you succeed in your industry, and do you have any advice specifically for the next generation? A common misconception — but balance is not a lifestyle. It is something that happens in a bank account after a lot of hard work. My advice is to outwork your competition consistently so you can outperform them again and again.
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Breathing New Life Into Coral Gables’ Miracle Mile While Staying True to its Roots
/in General, In the newsIn News Weekly, by Josh Wienmen – December 23, 2022
It can sometimes be a bittersweet thing to witness the ebbs and flows of a city. The longer you are connected to a place the more it becomes a part of who you are, and even when it is experiencing new growth it can be difficult to say goodbye to aspects of it that get left behind in the process. Change is an inevitable fact of life, and yet it isn’t easy to face. All one can do when observing changes to an area is hope that the original spirit is kept alive through them.
That has been the goal of Stephen Bittel’s Terranova Corporation and the others who own properties on Coral Gables’ historic Miracle Mile. The coastal city itself has traditionally placed a high priority on historic preservation, and as the central artery for its downtown area Miracle Mile plays an essential role in the city’s culture and heritage. Owning a number of buildings on the stretch, Terranova has not taken its responsibilities to the original character and charm of Miracle Mile lightly, working to bring in businesses that simultaneously stimulate growth for the city while also remaining true to its history.
Case in point, the recently celebrated reopening of John Martin’s at 253 Miracle Mile, a property owned by Terranova. Originally one of South Florida’s longest-running restaurants, the Irish-themed pub was forced to shutter in April of 2020 due to the coronavirus pandemic and was never able to open its doors again even after restrictions had been lifted. Emi Guerra and Alex Mantecon are the new leaders of Breakwater Hospitality Group, under their leadership, the bar has been given some rejuvenating updates while maintaining the original spirit of the pub.
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Miami Beach Becoming a ‘One-Stop Shop’ for Executives, Driving CRE Investment
/in General, In the news, LeasingALM LAW.COM, by Melea VanOrstand – “From November of 2021 to November 2022, the road got 8 million people,” said Mindy McIlroy, president of Terranova Corp.
The continuing influx of new-to-market residents and travelers to Miami Beach and the Lincoln Road District has led to an increase in real estate and hospitality investments.
A huge increase in foot traffic is contributing to the growth of businesses, according to Mindy McIlroy, president of Terranova Corp.
“From November 2021 to November 2022, the road got 8 million people. So that’s a lot of people that have trafficked Lincoln Road, which we think is terrific,” she said. “With the wealth migration coming from the Northeast, we’re also seeing a lot of retailers that are interested in traveling down south as well that follow their customers, so there have been more stores that are opening on Lincoln Road, that have bases in the Northeast area.”
As McIlroy sees it, anytime there is a new office or hospitality business in a district, it draws in more residents and guests.
“They’re enjoying breakfast before they go to work, they’re shopping and going out to lunch, they’re staying in the district later to enjoy the activities Miami Beach and Lincoln Road have to offer,” McIlroy said. “It’s a great thing for Miami Beach to have all of this new development happening in and around Lincoln Road.”
Lincoln Road has an occupancy rate of more than 85%. Many premier retail and restaurant brands are choosing the area due to its iconic significance and the destination’s strong post-pandemic recovery, McIlroy said.
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