Business Expert, Company

TerraNovaCorp and Stephen Bittel

Stephen Bittel created the company about 40 years ago and its plan was to procure properties such as shops in suburban retail markets for the first two decades.

Instead of remaining in line with the approach that had previously succeeded, the millennial generation decided to settle in more urban areas and Stephen Bittel started to invest in the properties located in walking cities in the center of town.

In Bittel’s home office, with the company’s first logo, a University Art Student, developed and his first acquisitions in “Friends and Family” syndications of two small uncontaminated border shopping malls down the street from the wine and gourmet store were launched by his grandparents in the 1950s, the company named his company “Terranova” or “New Country.”

Bittel faced one of the first big obstacles when the commercial real estate industry hit the recession after its prosperous development out of home and into an office with more staff.

Bittel has established links with leading retailers such as Publix, Walgreen and Starbucks, using these big chains as an anchor to bring traffic into shopping centers which smaller companies will benefit from.

While for over two decades Bittel’s plan succeeded, he was careful not to let this achievement blind him to business shifts.

Bittel agreed to start re-diversifying its portfolio by concentrating the first buildings on the main eastern-west road in the Coral Gables Central Business District in the Miracle Mile 8 real estate portfolio.

Bittel felt it was the right place, though no one paid much attention at the time, since there is an increasing interest in living and working in these walking towns.

Bittel has shown its understanding of urban centers and since the arrival of Terranova, both areas have seen significant growth in football traffic and value.

For over four decades and much more possibly, Bittel has been able to develop its demand with its business strategy by guaranteeing continuity and flexibility.

Terranova, with the operation of a business property for the local partnership, was incorporated in 1980 by Stephen Bittel. From then on, Terranova has become one of the leading commercial immobilizers in South Florida and has been developing a portfolio of assets now comprising over $1 trillion.

Terranova was the exclusive representative of industrial ventures in Florida with a worth of more than $5 billion, serving some of the world’s most important businesses.

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