The group acquired a 22.5-acre site in New Jersey.
Singapore headquartered real estate firm $Mapletree Log Tr (M44U.SG)$ announced plans to develop a state-of-the-art 250,000 square feet (sq ft) logistics facility in the US.
The group recently acquired a 22.5-acre site Burlington-Mount Holly Road in Westampton Township, New Jersey. The site offers convenient access to major transportation hubs, including the New Jersey Turnpike, airports and seaports. The group said the location is an ideal distribution centre and last-mile delivery hub, particularly for e-commerce operators.
Richard Prokup, CEO of Mapletree US said the recent acquisition highlights their commitment to expanding its footprint in the US, its largest market globally.
As of 31 March 2024, the US accounted for approximately 27% of the Group's total assets under management, valued at $77.5b.