Real estate firm Mapletree Industrial Trust (MIT) is selling a data center in Philadelphia, Pennsylvania.

Mapletree this week announced that it has entered into a purchase and sale agreement through an affiliate for the proposed divestment of 2000 Kubach Road in Philadelphia.

The sale, to an unnamed non-interested third-party purchaser, has a proposed sale price of $14.5 million. The deal is set to close in Q3 2026.

Built in 1993 and sitting on 25 acres in the Byberry West Industrial Park, the site currently hosts a two-story data center with around 124,190 sq ft (11,538 sqm) of net lettable space. A previous sales brochure suggests the site offers around 13.2MW.

Mapletree noted, however, that since the expiration of the lease on 31 December 2024, leasing interest in the property has been “limited.”

“Repositioning or redevelopment of the property presents challenges, including extended lead times to secure higher power capacity, as well as construction and execution risks,” the company said. “Following a thorough evaluation, the manager has concluded that divesting the property at the offered price represents the most prudent course of action to optimize capital allocation and portfolio performance.”

A JLL sales brochure from earlier this year described the site as a “rare opportunity to redevelop the existing facility into a premier, warehouse/distribution center.”

Mapletree Industrial Trust is a Singapore-listed real estate investment trust. It is part of Mapletree Investments, which is owned by Singapore’s sovereign wealth fund Temasek Holdings. MIT owns 55 data centers across the US, as well as facilities in Singapore and Japan.

Ler Lily, Chief Executive Officer of the Manager, said, “The proposed divestment is part of our broader strategy to rebalance the portfolio. Redeploying capital into markets and assets with sustainable growth potential will strengthen MIT’s portfolio and deliver sustainable returns to unitholders.”

MIT bought the facility in 2017 as part of a portfolio of US data centers acquired from Carter Validus for $750m.

Carter Validus had acquired the site in late 2012 for $65m from CSX Corp. Investment advisory firm Vanguard Group was previously a tenant of the site, but it is unclear when the company exited.