The State of Real Estate in Coral Gables: Finding Balance in the New Boom

RETAIL RISES –”LINCOLN ROAD TAUGHT US THE POWER OF PEOPLE SITTING IN CAFES ON THE STREET AND HOW THAT COULD BE THE ENGINE TO TRANSFORM THE STREET … “

The other side of the commercial real estate coin is retail – and no one owns more retail space on Miracle Mile than Terranova Corporation. Founder and chairman Stephen Bittel started buying up property on the main street almost 20 years ago with a vision that “as more residences and more hotels and more offices were built in the area, traffic would grow.” He adds with a grin, “And, in fact, that’s happened.”
Today, Terranova owns 15 buildings on the Mile, including John Martin’s and Capital Burger, as well as an office building at 255 Alhambra. Bittel recently relocated the firm’s offices from Miami Beach, where he made a fortune buying early on Lincoln Road, to a temporary location on Miracle Mile.”