Logik Sets Class A Office Precedent for Overtown

The construction of Logik, a two phase Class A office tower project (I.C.E. Development), in the often overlooked Overtown area signals a positive stride in Miami’s office market and the urban core’s evolution. As it stands, Overtown represents an entire under utilized segment of the core. Park West is rising to the east, the CBD is busting at the seams to the south, and the M&E is seeing quite a bit of activity to the north. The well-designed Logik will help to fill in the Overtown development gap with Class A office. Construction is set to begin this year. The towers are slated for completion some time in 2009. Office condos start at the $300’s.

Logik specs:

  • 31 floors (352 ft. height)
  • 700,000 total sq. feet
  • 130,000 sq. ft. for office tower suites
  • retail component

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6 Comments

Filed under CBD: Overtown, Commercial Developments

6 responses to “Logik Sets Class A Office Precedent for Overtown

  1. I sure wouldn’t mind living there!

  2. The building is nice but it doesn’t fall into the category of residential. As it stands, Overtown doesn’t have too many desirable residential options. I suppose office will be the popular future use in the area. Logik is an encouraging precedent. The name Overtown, after all, isn’t very marketable for residential condos.

  3. Brad

    Not marketable for residential but only slighlty more marketable for office condos. I wonder what type of tenants will end up in that building. I think most tenants that would consider buying in that “up-and-coming area” (ahem) are already priced out of tthat building (i.e., arts/design-related, multimedia, talent/model companies).

  4. It’s hard to tell what kind of owners/tenants the building will draw. There is little to compare it to in the area. My gut tells me that Overtown (east of the I-95), due to its central location, easy access to the I-95 and 836, comparatively low land values, and low residential marketability, will be an important theater of future office development.

  5. Teddy

    Ever since you wrote this, this project has failed and still remains as a vacant land. What would you say about this street corner in our times now?

    • BoB

      Office development is staying south of the River. Class A tenants are going to be hard to find in this area for some time. There is yet anything to catalyze growth in this sector of the urban fold.

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