A project by PNK Group is slated to bring some 270,000 square feet of logistics space to a 53-acre parcel at the intersection of routes 30 and 73. — Rendering courtesy: PNK
By Joshua Burd
Industrial developer PNK Group has acquired more than 53 acres in Camden County, with plans to build some 270,000 square feet of logistics space as part of its growing footprint in the state.
The New York-based firm said the project, located in Waterford, will support uses ranging from manufacturing to storage and distribution. That’s due in part to the increased material density and durability of its structures, PNK Group said, citing the use of standardized large-format blocks premanufactured at its factories in Georgia and Pennsylvania.
The site will also provide immediate access to routes 30 and 73 and easy connections to Interstate 295 and the New Jersey Turnpike, the firm noted. And users will be able to reach some 35 million residents within a 150-mile radius, including the metropolitan areas of New York, Philadelphia, Baltimore and Washington, D.C.
PNK added that the project, part of a redevelopment agreement with Waterford Township, includes a 20-year payment in lieu of taxes agreement, offering substantial tax incentives for future tenants and users. It comes alongside another of the firm’s projects in South Jersey, in Hammonton, where it’s planning a 280,800-square-foot facility that will be minutes from the Atlantic City Expressway.
Terms of the deal in Waterford were not disclosed.
PNK Holdings buys fully approved parcel for 281,000 sq. ft. warehouse in Hammonton
