LOGAN TOWNSHIP, NJ—Spec construction is alive and well in the New Jersey industrial space. Dermody Properties and partner Great Point Investors held a “groundbreaking” ceremony for its new multi-tenant facility in LogistiCenter Logan, the developer's 5.5-million-square-foot industrial park.
Executives from both firms marked the building's progress with a ceremonial photo and silver shovels—even though all four exterior walls are already erected on a muddy parcel near the entrance to the park. The firms blamed the harsh and prolonged winter for the unusual timing of the groundbreaking.
Hear an exclusive GlobeSt.com audio news report about the new facility in the player below.
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