Terranova Corporation
Terranova Corporation has been the driving force behind commercial real estate growth and development in Southern Florida. It was founded by Stephen Bittel in the year 1980. His aim was to modernize the local communities. During their 40th Anniversary, Stephen Recaps the amazing and transforming journey of rejuvenating commercial real estate and how Terranova has provided a promising base for future progression.
Stephen Bittel initially invested in two shopping centers situated in sunset drive. This was a time when real estate industry was full of strip centers. He later diversified to an industrial park, Biscayne Plaza Shopping center and the five-building office. Even with bigger real Estate projects, Terranova remained solely the property and leasing manager despite the multiple investors they had gained. It was the foundation of their impeccable industry experience that advanced into unbeatable real estate expertise. Terranova grew into the premier leasing and management investor partner for multiple large-scale corporations in multiple localities. The company’s net worth is over $1 billion in assets.
Impact of Terranova
Introducing the concept of Technology in Real Estate
Stephen Bittel identified the technological advancement that was preeminent in the early 2000s. He leveraged this opportunity to remain on top of the competitive market and this contributed to the immense growth of his company. Terranova developed infrastructure for public use in-line with the evolvement of a modern shopping experience. They invested on streetlights, walkways, interactive play areas and even art installations.
Provided opportunities to the surrounding communities
Terranova’s success was directly proportional to the creation of opportunities for the local communities. The company constructed shopping and business centers, offices and job opportunities in their construction projects. This propelled the economic power of these local communities.
Stephen Bittel is from Miami where he studied law in the University of Miami and obtained his degree in 1982. For two years, he led the Miami Jewish federation Washington mission. Besides the real estate success, Bittel has been a member of the board of directors in the Chapman Partnership and also served as a guarantor in the Great Miami commerce chamber.