June 11, 2018 — Last weekend I attended my 40th Bowdoin College reunion, replete with the expected Maine lobsters in full and in roll, and all the accompanying Maine specialties like chowder, steamed clams, whoopie pies, and the like. What was more remarkable was the commitment to the Common Good that was an intrinsic part of our Bowdoin education and has remained a driver in the lives of so many members of our tiny class, that was 353 strong at the start, with just a handful less graduating.
Truth be told, I arrived at Bowdoin College, in Brunswick, Maine in August of 1974 woefully unprepared for the academic rigor that lied ahead. Having graduated from Miami Palmetto Senior High, in a graduating class of over 1200 that had been on split shifts for all three years (yes, I attended school from 11:55 a.m. to 4:55 pm daily with no lunch break and no air conditioning), my loving parents proudly brought me to the airport in Miami with my trunk and duffel bag, and sent me on my way with a big hug and kiss and best wishes. Parents did not bring their young students to college back then to get them settled in their dorms. After flights to Boston, with a transfer to another to Portland, I found myself in a shuttle van off to Brunswick, where I had visited just once before for a few hours. Bowdoin was probably a far reach beyond my academic record at that point, but good outside activities and SAT’s got me through the admissions gauntlet, which I would never make in today’s vastly more accomplished group of new students.
The incredibly long list of famous graduates was still a mystery to me, but the very first night as I unpacked, Stanley Druckenmiller, who became a legendary investor, somehow was in my room telling me I had to take a course in southern literature taught by Franklin Burroughs. Doing as advised, little did I know that I would be turning in an 8 to 10-page typed paper every other Friday comparing two novels. My freshman economics course taught by Myrick Freeman hooked me on business for a lifetime, and Bill Geoghegan’s religion survey course stretched my mind around the world. This tiny school in Maine has produced a President, Chief Supreme Court Justice, countless cabinet members and White House advisors, professors and teachers. Business leaders have included Ken Chenault former longtime Chairman of American Express, Reed Hastings, Founder and CEO of Netflix, and so many more. We studied in the Hawthorne-Longfellow library, both Bowdoin alumni, and as a senior, I tutored economics in the same building that housed the Peary MacMillan Arctic Museum, the discoverers of the North Pole—also alums. Famed civil war general Joshua Chamberlain walked the quad as did George Mitchell, William Cohen, and Geoffrey Canada more recently. So, at the start, I was humbled into insecurity and scared of making it through at all. Somehow, I did well enough and graduated in 1978, deep in the era of the Bee Gees Stayin Alive and Van Morrison, right on time as almost all of us did back then.
I was startled to learn that over 20 members of the class had passed away, yes I too have aged. Many were retired, which seems like a terrible waste of opportunity to do good and accomplish more. They looked much older than me and one classmate, Macauley Lord, urged me to come back in winter to go ice fishing with him. Frank D’Amico is an accomplished scientist, Lyman Page a world class physicist at Princeton, and there were authors, teachers and leaders from all parts of the country. Saturday afternoon, Cynthia McFadden, Senior Legal and Investigative Correspondent for NBC news led a robust discussion with John Studzinski, Vice Chairman of The Blackstone Group, both classmates.
I left on Sunday, believing that this little school that could in a small town combined the very best of an intense academic experience with the community values of Maine. We had done well as a group and had a lot more good to do still ahead. I left feeling extraordinarily fortunate to have had this remarkable four years and to come back and reconnect with so many people. My sister graduated from Bowdoin two years after me, and my son Ari in 2010, all of us better for the experience. I have never worked harder in my life and was never surrounded by a smarter group of people. I guess if you take an incredibly selective group of high school graduates (not including myself), and give them a remarkable education, they ought to grow up to become strong contributing members of our community, and so they did.
Stephen Bittel
Terranova’s Lincoln Eatery Food Hall – A Miami Beach Destination
/in Bittel on BusinessJune 20, 2018 – Our Lincoln Eatery food hall is wrapping up construction this week as we turn over stalls for our tenants to begin their work. A unique collection of local food chef/entrepreneurs are joining together in what one writer termed, the sharing economy of food. Preleasing is at almost 75% signed and or committed, with just a handful of spaces still available.
What a learning exercise this has been for our team, led by Mindy McIlroy, Terranova Executive Vice President and Vanessa Francis, our leasing leader on this project. We visited food halls all over the country from New York City to Denver, from New Orleans to Los Angeles, and everywhere in between, talking to tenants and operators about what was working and what could be improved. We learned from designers and chefs, from contractors and managers. No two models seemed the same, but each brought an energy and excitement to the local food scene.
We agonized over every detail from seating to counters, tiles to flooring, sound systems to televisions, lighting to bathrooms. And ohhhhh, don’t forget the wallpaper in the bathroom, with each one more colorful and unique than the next. Detailed thought went into grease traps and hoods, electrical service, wi-fi and cooling, column covering and ceilings, and the list could go on forever.
We are looking forward to a December opening featuring all kinds of activities from morning to evening so we are ready and experienced to welcome guests for Art Basel in early December. The project was both fun and agonizing as we worked hard to figure out the right choices in a nascent industry often yielding more questions than answers.
The Lincoln Eatery will be a community gathering place from morning to evening, where local friends and visitors alike can gather to share ideas and smiles, to sate their hunger, to grab a coffee and pastelito or a croissant. As the day goes by, and the meal changes, deli sandwiches, hot pizza and sushi, as well as popsicles and nitrogen ice cream will all be deliciously available. Located just off Lincoln Road, on Meridian Avenue, strategically by the Miami Beach Convention Center and the City of Miami Beach City Hall, the location guarantees enormous amounts of pedestrian traffic at all times of the day, every day of the week.
The decision to develop the Lincoln Eatery was driven by a desire to offer a place for people to connect in person vs. online; to create an anchor for an expansion of the Lincoln Road experience north on Meridian; and to provide a comfortable and casual, popularly priced dining experience for local beach residents and the millions of visitors every year. Of course, we are inviting you to join us to watch as the dream becomes an active reality. Watch us as we move forward on social media (@lincolneatery) and make sure you invite your friends to stay tuned as well.
Look forward to seeing you at the opening!!
Stephen Bittel
Thinking Small: Inside Real Estate’s Next Huge Movement
/in Trending topics, TrendsJune 15, 2018 — TERRANOVA TRENDS — BY ANDREA SPEEDY Ask typical consumers in the Western hemisphere to describe a “micro unit” in terms of real estate, and after they take a few moments to think, they might tell you about the tiny apartments they’ve either seen or heard about in Japan… but they’d only be partially correct. Today’s micro units now exits throughout the globe, are growing in popularity in the United States, and extend well beyond the residential sector to include retail, hospitality, office spaces, dining & entertainment, and more.
Generally defined as spaces ranging between 300 and 600 square feet, micro units are becoming increasingly popular due to the value proposition they offer to consumer audiences, and the strong potential return on investment they deliver to property owners. Even better, the cost-benefit equation on micro units plays out almost exactly the same no matter where or what the space will be used for.
Consider two scenarios that typically have very different real estate priorities: residential tenants and retail tenants. Traditional perspectives would dictate that the residential tenant wants as much square footage as he or she can possibly afford for a certain monthly price. Retail tenants, on the other hand, value location over size – knowing that a better small store or restaurant that is always full is better than the large space that always seems empty. Recently, however, these two audiences have started to converge.
CLICK HERE TO READ THE LATEST INSTALLMENT OF TERRANOVA TRENDS
Bittel at Bowdoin College Reunion
/in Bittel on BusinessJune 11, 2018 — Last weekend I attended my 40th Bowdoin College reunion, replete with the expected Maine lobsters in full and in roll, and all the accompanying Maine specialties like chowder, steamed clams, whoopie pies, and the like. What was more remarkable was the commitment to the Common Good that was an intrinsic part of our Bowdoin education and has remained a driver in the lives of so many members of our tiny class, that was 353 strong at the start, with just a handful less graduating.
Truth be told, I arrived at Bowdoin College, in Brunswick, Maine in August of 1974 woefully unprepared for the academic rigor that lied ahead. Having graduated from Miami Palmetto Senior High, in a graduating class of over 1200 that had been on split shifts for all three years (yes, I attended school from 11:55 a.m. to 4:55 pm daily with no lunch break and no air conditioning), my loving parents proudly brought me to the airport in Miami with my trunk and duffel bag, and sent me on my way with a big hug and kiss and best wishes. Parents did not bring their young students to college back then to get them settled in their dorms. After flights to Boston, with a transfer to another to Portland, I found myself in a shuttle van off to Brunswick, where I had visited just once before for a few hours. Bowdoin was probably a far reach beyond my academic record at that point, but good outside activities and SAT’s got me through the admissions gauntlet, which I would never make in today’s vastly more accomplished group of new students.
The incredibly long list of famous graduates was still a mystery to me, but the very first night as I unpacked, Stanley Druckenmiller, who became a legendary investor, somehow was in my room telling me I had to take a course in southern literature taught by Franklin Burroughs. Doing as advised, little did I know that I would be turning in an 8 to 10-page typed paper every other Friday comparing two novels. My freshman economics course taught by Myrick Freeman hooked me on business for a lifetime, and Bill Geoghegan’s religion survey course stretched my mind around the world. This tiny school in Maine has produced a President, Chief Supreme Court Justice, countless cabinet members and White House advisors, professors and teachers. Business leaders have included Ken Chenault former longtime Chairman of American Express, Reed Hastings, Founder and CEO of Netflix, and so many more. We studied in the Hawthorne-Longfellow library, both Bowdoin alumni, and as a senior, I tutored economics in the same building that housed the Peary MacMillan Arctic Museum, the discoverers of the North Pole—also alums. Famed civil war general Joshua Chamberlain walked the quad as did George Mitchell, William Cohen, and Geoffrey Canada more recently. So, at the start, I was humbled into insecurity and scared of making it through at all. Somehow, I did well enough and graduated in 1978, deep in the era of the Bee Gees Stayin Alive and Van Morrison, right on time as almost all of us did back then.
I was startled to learn that over 20 members of the class had passed away, yes I too have aged. Many were retired, which seems like a terrible waste of opportunity to do good and accomplish more. They looked much older than me and one classmate, Macauley Lord, urged me to come back in winter to go ice fishing with him. Frank D’Amico is an accomplished scientist, Lyman Page a world class physicist at Princeton, and there were authors, teachers and leaders from all parts of the country. Saturday afternoon, Cynthia McFadden, Senior Legal and Investigative Correspondent for NBC news led a robust discussion with John Studzinski, Vice Chairman of The Blackstone Group, both classmates.
I left on Sunday, believing that this little school that could in a small town combined the very best of an intense academic experience with the community values of Maine. We had done well as a group and had a lot more good to do still ahead. I left feeling extraordinarily fortunate to have had this remarkable four years and to come back and reconnect with so many people. My sister graduated from Bowdoin two years after me, and my son Ari in 2010, all of us better for the experience. I have never worked harder in my life and was never surrounded by a smarter group of people. I guess if you take an incredibly selective group of high school graduates (not including myself), and give them a remarkable education, they ought to grow up to become strong contributing members of our community, and so they did.
Stephen Bittel