Learn About Stephen Bittel, a Real Estate Expert

Stephen Bittel has spent 40 years developing Terranova into how it is today. He was born and raised in Miami and wanted to become a lawyer like his father and grandfather. However, while pursuing his undergraduate in economics, he realized he was more drawn to entrepreneurship.

After graduation, he spent about one year traveling and making international connections. He found himself better positioned to venture into the real estate business. Although he had begun his studies in law, he started developing Terranova.

Eventually, the company flourished and even survived the 1980’s real estate market recession. Soon after the recession, Bittel increased his efforts to grow his company’s portfolio. He mainly capitalized on the young families moving into the Miami-Dade municipality by purchasing strip malls and shopping centers in the area.

Stephen Bittel knew that the families needed easy access to pharmacies, grocery stores, and other chain stores. Therefore, Terranova partnered with other large brands such as Starbucks, Walgreens, and Publix to fulfill these needs.

Through the partnership, Terranova became among the powerhouses in the commercial real estate industry. By 2000, the company owned and operated self-storage assets, office buildings, and multi-family and industrial parks with a base of over 8 million square feet.

Stephen Bittel tailored his company into a flexible model to meet the rising needs and shifts in the real estate industry. After realizing that most of his employees opted to buy and renovate homes in the urban areas, he pivoted Terranova and began acquiring properties in the urban centers. Among the purchases he made was a $52 million property on Lincoln Road, followed by a $139 million deal.

During the recent COVID-19 pandemic, many retail industries were devastated. However, Terranova overcame the wave by maintaining a flexible structure. As businesses return to normal operations, Stephen Bittel believes that new and existing businesses on Miami Beach Market will continue to thrive.

Stephen Bittel serves as the Chairman and Founder of Terranova Corporation. He has served as a board member at the Miami-Dade Expressway Authority, the Chapman Partnership, and the Jackson Memorial Foundation. He is currently a board member of (TFA) Teach for America Miami.