Industrial developer PNK Group has officially broken ground on a new, large-scale multi-functional facility in Southern New Jersey. The PNK Waterford Groundbreaking Ceremony took place on Oct. 14, marking the start of construction for the 268,000-square-foot building on a 53-acre site in Waterford Township, Camden County.
Regional leaders, including Senator Paul Moriarty, Mayor Robert Doney, Deputy Mayor Thomas Giangiulio and Police Chief Daniel Cormaney, attended the ceremony to welcome the developer.
The project is considered critically important for the local community. Robert Doney, Mayor of Waterford Township, expressed immense excitement, stating, “This is likely one of the largest — if not the largest — developments our township has seen in a very long time. We’re thrilled to welcome PNK to our community and look forward to seeing this impressive building come to life, bringing jobs, opportunities, and growth to Waterford.“
Mark Stiles, Partner at PNK Group, noted that the southern New Jersey region holds strategic importance for the company. The area traditionally sees strong tenant demand due to its location with proximity to four major seaports, a high population density, and access to skilled labor.
The new facility’s location at the intersection of Routes 30 and 73 offers fast access to major transportation arteries, including I-295 and the NJ Turnpike. Within a 150-mile radius, the site provides access to approximately 35 million people, covering the metropolitan areas of New York, Philadelphia, Baltimore, and Washington, D.C.
The development is part of a 20-year PILOT (Payment In Lieu of Taxes) program, which is expected to offer significant tax advantages for future tenants and users.
PNK Group is known for its modular construction method, utilizing large prefabricated units to simplify on-site assembly and lead technological advancements in industrial construction.
