Mapletree Investments has acquired a 96.8-acre site in the US to build what it calls a best-in-class logistics facility.
The cost was not disclosed.
The development, at 370 Smithburg Road in Manalapan, New Jersey, will feature two warehouse buildings with individual footprints of 300,220 sq ft and 652,500 sq ft, each with 40‑foot clear heights. Completion is expected in the first quarter of 2028.
"Following recent industrial divestments, we’re proud to reinvest in strategic development opportunities like 370 Smithburg Road that expand our national pipeline and reinforce our commitment to the US logistics sector," said Richard Prokup, CEO, US, Mapletree.
Chiagorom Osu, Head of US Logistics Development at Mapletree, calls central New Jersey an important logistics market, and this project builds on Mapletree’s growing development presence in the state as the company continues its investments in high-conviction opportunities across the US.
The development is within reach of major air cargo hubs, including Newark International Airport and Philadelphia International Airport. It also provides direct connectivity to three of the busiest US seaports — the Port of New York and New Jersey, the Port of Philadelphia and the Port of Wilmington in Delaware.
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Mapletree currently owns and manages approximately 1.5 million sq ft of industrial assets across New Jersey and Pennsylvania, part of its total US logistics footprint of more than 66 million sq ft.
Since entering the US real estate market in 2014, Mapletree has built a diverse portfolio spanning logistics, data centre, office, student housing and multifamily properties.
As of March 31, 2025, the US accounted for around a quarter of Mapletree's total assets under management valued at US$60.1 billion, or $80.3 billion.
