Singapore’s Mapletree Industrial Trust Sells Philadelphia Data Center for $14.5 Million
May 25, 2026
Singapore’s Mapletree Industrial Trust Sells Philadelphia Data Center for $14.5 Million
Singapore-based Mapletree Industrial Trust (MIT) has agreed to divest a data center property in Philadelphia, Pennsylvania, for $14.5 million, as part of a broader strategy to rebalance its portfolio and redeploy capital into higher-growth markets. The sale underscores the challenges of repositioning aging data center assets in competitive U.S. markets.
In a statement released on Monday, MIT confirmed it signed a deal on May 22 to sell the two-story facility to a third-party purchaser. The sale price represents a 4.3 percent premium above the property’s independent valuation of $13.9 million as of March 31, 2026. The trust plans to use the net proceeds to pay down debt and fund working capital requirements. The data center spans a net lettable area of approximately 124,190 square feet, situated on freehold land of about 1.1 million square feet.
The decision to sell follows the expiration of the property’s lease at the end of 2024, after which leasing interest remained limited. Mapletree Industrial Trust Management Ltd., the trust’s manager, cited significant challenges in repositioning or redeveloping the asset, including lengthy lead times to secure higher power capacity and construction risks, as key factors behind the divestment.
Ler Lily, CEO of Mapletree Industrial Trust Management, said the move is part of a broader strategy to rebalance MIT’s portfolio and redeploy capital into markets and assets with sustainable growth potential to deliver stronger returns to unitholders. The divestment is slated for completion by the third quarter of 2026.
Source: technode
