Singapore’s Mapletree Industrial Trust sells Philadelphia data center for $14.5M

For $14.5 million, Singapore-based Mapletree Industrial Trust (MIT) will sell a data center property in Philadelphia, Pennsylvania, USA.

Mapletree Industrial Trust said in a statement on Monday that it reached an agreement on May 22 to sell the infrastructure to a third-party buyer. The sale price is 4.3% more than the $13.9 million independent valuation of the property as of March 31, 2026. The company intends to use the net proceeds to finance working capital needs and/or debt repayment.

Situated on approximately 1.1 million square feet of freehold land, the property is a two-story data center with a net lettable area of about 124,190 square feet.

After the property’s lease expired at the end of 2024 and leasing interest remained restricted, MIT decided to sell. As the manager of Mapletree Industrial Trust, Mapletree Industrial Trust Management Ltd. attributed the divestment to difficulties in repositioning or redeveloping the asset, such as long lead times to secure higher power capacity and construction risks.

According to Ler Lily, CEO of Mapletree Industrial Trust Management, the action is a component of a larger plan to rebalance MIT’s portfolio and reallocate funds to assets and markets with potential for sustainable growth in order to provide unitholders with higher returns.

The third quarter of 2026 is when the divestment is expected to be finished.