MANALAPAN, NEW JERSEY – Mapletree Investments (“Mapletree” or “the Group”) has acquired a 96.8-acre site at 370 Smithburg Road in Manalapan, New Jersey, United States (“US”), where it plans to develop a 952,720-square-foot (“sq ft”) best-in-class logistics facility. 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, Chief Executive Officer, US, Mapletree.

Chiagorom Osu, Head of US Logistics Development at Mapletree, added: “Central New Jersey continues to be an important logistics market, and this project builds on Mapletree’s growing development presence in the state as we continue to invest in high-conviction opportunities across the country.”

The development will feature two warehouse buildings with individual footprints of 300,220 sq ft and 652,500 sq ft, each with 40‑foot clear heights. The site will include 366 car parking spaces, 141 trailer parking spaces and 172 dock doors, along with EV charging infrastructure and smart metering technology, and will target LEED Silver certification.

Strategically positioned near Exit 8 of the New Jersey Turnpike, 370 Smithburg Road offers one‑hour access to both New York and Pennsylvania and sits within reach of major air cargo hubs, including Newark International Airport and Philadelphia International Airport. It also provides direct connectivity to three of the nation’s busiest seaports — the Port of New York and New Jersey, the Port of Philadelphia and the Port of Wilmington in Delaware — supporting efficient regional and national distribution.

Mapletree currently owns and manages approximately 1.5 million sq ft of industrial assets across New Jersey and Pennsylvania. These holdings contribute to the Group’s broader US logistics footprint, which totals more than 66 million sq ft. This closing adds to a series of development milestones that Mapletree has recently achieved across the US, including groundbreakings for three new projects in less than one month:

• In November 2025, the Group broke ground on a 420,262-sq ft logistics facility on a 37.64-acre site at 1180 Corporate Center Drive East in Tobyhanna, Pennsylvania, adjacent to its existing 1.3 million-sq ft industrial asset at 2086 Corporate Center Drive West.
  
• The previous month, Mapletree broke ground on a pair of industrial facilities in Chicago: 1360 Schiferl Road and 3600 Houbolt Road. Known as the Bartlett Commerce Center, the 149,100-sq ft building at 1360 Schiferl Road sits on an 8.2-acre parcel adjacent to Mapletree’s existing 400,000-sq ft warehouse.
  
• Situated along the I-80 and I-55 interchange, the 18.11-acre site at 3600 Houbolt Road will be home to a 312,306-sq ft warehouse that provides direct connectivity to the Joliet Intermodal Center — North America’s largest inland port and home to both the Union Pacific and BNSF Joliet Intermodal Terminal.

In September 2025, the Group acquired a 29.36-acre site at 1035 W. Laraway Road in Joliet, where it plans to develop a best-in-class logistics facility spanning 418,880 sq ft. 

In July 2025, Mapletree broke ground for a 250,000-sq ft industrial facility in Westampton Township, New Jersey. Set on a 22.5-acre site along Burlington-Mount Holly Road, the planned facility is located near major transportation arteries, including the New Jersey Turnpike, airports and seaports, making it well-positioned to serve as a distribution centre and last-mile delivery hub.

Mapletree also recently completed the 53,995‑sq ft expansion of 350 Gills Drive, bringing 204,540 sq ft of high‑quality logistics space to the downtown Orlando market.

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 approximately 25% of the Group’s total assets under management, valued at ~US$60.1 billion (S$80.3 billion).