On Oct. 14, industrial developer PNK Group officially broke ground on a new, multifunctional facility in Waterford. The building is expected to span 268,000 square feet on a 53-acre site.
The groundbreaking ceremony was attended by regional leaders, including Senator Paul D. Moriarty, Mayor Robert Doney, Deputy Mayor Thomas Giangiulio, Police Chief Daniel Cormaney and other representatives from Waterford Township.
“Saying we’re excited about this project would be an understatement,” said Mayor Doney. “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.”
According to Mark Stiles, partner at PNK Group, the Southern New Jersey region is strategically important for the company, and the project itself is critically important for local authorities.
The region traditionally sees strong tenant demand due to its strategic location, proximity to four major seaports, high population density and access to skilled labor. The site is located at the intersection of Routes 30 and 73 — two major highways providing fast access to I-295 and the NJ Turnpike.
The project is part of a 20-year PILOT (Payment In Lieu of Taxes) program, which offers significant tax advantages for future tenants and users.
