Mapletree Investments plans to develop a modern 250,000-square-foot logistics facility at a newly acquired site along Burlington-Mount Holly Road in Westampton Township. — Courtesy: Mapletree
By Joshua Burd
Real estate firm Mapletree Investments has acquired nearly 23 acres in Burlington County where it plans to build a 250,000-square-foot logistics facility just off the New Jersey Turnpike.
The Singapore-based buyer announced the deal this week, noting that the property at 1960 Burlington-Mount Holly Road in Westampton Township is fully approved. It did so while touting it as a prime opportunity for users seeking a distribution center or last-mile delivery hub, particularly for ecommerce operators, given its location at the Turnpike’s Exit 5 interchange and less than two miles from Interstate 295.
“This acquisition highlights our ongoing commitment to expanding our footprint in the U.S., which remains Mapletree’s largest market globally,” CEO Richard Prokup said. “It also aligns with a key component of our latest five-year plan which focuses on U.S. logistics development in high potential markets.”
Mapletree, which paid an undisclosed sum for the 22.5-acre site near the Hancock Lane intersection, said it now owns and manages logistics assets totaling roughly 251 million square feet globally.
“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,” said Chiagorom Osu, the firm’s head of U.S. logistics development. “This project allows us to grow our existing 70 million square-foot U.S. 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.”
