NEW JERSEY, UNITED STATES, 17 December 2024 - Mapletree Investments (“Mapletree” or “the Group”) is pleased to announce the successful acquisition of a 22.5-acre fully approved site along Burlington-Mount Holly Road in Westampton Township, New Jersey. Mapletree plans to develop a state-of-the-art 250,000 square feet (sq ft) logistics facility.

Mr. Richard Prokup, Chief Executive Officer, US, Mapletree, said: “This acquisition highlights our ongoing commitment to expanding our footprint in the US, which remains Mapletree’s largest market globally. It also aligns with a key component of our latest Five-Year Plan which focuses on US logistics development in high potential markets.”

Mr. Chiagorom Osu, Head of US Logistics Development, Mapletree added: “Our strategy centers on acquiring well-positioned sites in both established and emerging markets nationwide where we already have a presence and see opportunities for long-term growth. This project allows us to grow our existing 70 million sq ft US logistics portfolio with a premium facility designed to attract a diverse range of occupiers across industries. This development underscores our long-term commitment to delivering high-quality logistics solutions in the New Jersey market.”

Strategically situated along Burlington-Mount Holly Road, the site offers convenient access to major transportation hubs, including the New Jersey Turnpike, airports and seaports. Its prime location positions it as an ideal distribution center and last-mile delivery hub, particularly for e-commerce operators.

The development will further bolster Mapletree’s status as a global leader in logistics. The Group currently owns and manages logistics assets totaling approximately 251 million sq ft globally.

Mapletree has been in the US since 2014. Beyond logistics, Mapletree’s US portfolio spans multiple asset classes, including office, data center, student housing and multifamily properties. As of 31 March 2024, the US accounted for approximately 27% of the Group’s total assets under management, valued at S$77.5 billion (~US$57.7 billion).

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Mapletree plans to develop a state-of-the-art 250,000 sq ft logistics facility at the newly acquired site along Burlington-Mount Holly Road in Westampton Township, New Jersey, US.