All areas of the economy were hit with difficulties amidst the global pandemic last year and the real estate market was no exception. However, industry leaders like Stephen Bittel and his company TerraNovaCorp have changed the way commercial real estate is thought of and experienced. The company took a daring approach to several problems that were only made worse by the pandemic including social distancing and online shopping. To encourage consumers to venture back out of their homes, TerraNovaCorp leveraged the warm weather of it’s home state of Florida to open outdoor dining spaces on the roofs of buildings like Skyyard Miami. This dining space, which otherwise would have no way of welcoming customers for on-the-premises seating, will be a thriving social scene in one of the only rooftop spaces in the area.
In addition to alternative commercial spaces, TerraNovaCorp has experimented and seen significant success in leasing and pop-up shops. These short term leases have allowed small businesses, artists and many others to sell their goods in a busy area without the commitment and risk of long term leasing. Not only did this increase traffic to the area as many shops bring in a slew of diverse consumers, but it also backfilled vacancies from long-term lease holders from the pre-pandemic market.
Stephen Bittel is a native of Miami, growing up in the city his family has lived in for generations. He is dedicated to the community of Miami and participates on the boards of several nonprofits. He started his own business the venture in 1980 after leaving a real estate firm with the mindset that he could do it better. In the last 40 years he has grown the business from a small office set up in his house to one of the top real estate companies in the area and shows no signs of slowing down.