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CARTERET, NJ-Panattoni Development Co. has broken ground for twospec industrial buildings on a 120-acre site here. Dubbed i-Port12, the project totals 1.26 million sf of space and takes thenumeric part of its name from the adjacent Exit 12 of the NewJersey Turnpike. It also marks the initial project in the GardenState for the Sacramento-based Panattoni.

As reported by GlobeSt.com,theproject was initially announced in early 2004, and Panattoni openedan office in nearby Edison to oversee its activities in the GardenState. At the time, the company hired Jim Murray away from MatrixDevelopment Group to head the New Jersey office as a partner inPanattoni. The 18-month period from announcement to groundbreakingwas spent remediating the brownfield site, which was used as alandfill for several decades before being closed in the 1970s. Theremediation process reportedly cost in the neighborhood of $30million.