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MADRID, Spain, Jan 05, 2005 /PRNewswire-FirstCall via COMTEX/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities and services, today announced that it has signed an agreement to lease 49,105 square feet (4,562 m2) of space at ProLogis Park Alcala to Mahle Sistemas de Filraction, S.L. (Mahle), a manufacturer of filter systems for the automotive industry. This is Mahle's first lease with ProLogis. Located outside of Madrid, ProLogis Park Alcala's initial phase of development is now fully leased.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990420/PROLOGIS)
Miguel Fiter, general manager for Mahle, said, "We are always looking for excellence, not only in our products but also within our processes and day-to-day business. In selecting our new premises, we found that ProLogis offered the best solution for our needs. We particularly appreciate ProLogis' high standards of quality and their capacity for satisfying our specific requirements."
John Derweduwe, ProLogis market officer, said, "We are very pleased to have fully leased the initial phase of ProLogis Park Alcala, and we welcome Mahle, a worldwide leader in the automotive supplies industry. Mahle's global experience in managing their supply chain gives them an appreciation for the prime location and state-of-the-art distribution space at ProLogis Park Alcala that is unequalled in the Madrid market."
ProLogis Park Alcala offers direct access to the N-II freeway connecting Madrid to Barcelona. Other ProLogis customers in ProLogis Park Alcala include Nippon Express, Abbott Laboratories and Traiglefer. The first phase of the Park, comprising 608,457 square feet (56,527 m2) of distribution space, is now fully leased. Construction on the second phase will begin in the first quarter of 2005 and will comprise three additional distribution facilities for a total of 615,270 square feet (57,160 m2).
About ProLogis
ProLogis is a leading provider of distribution facilities and services with 291 million square feet (27 million m2) in 1,972 distribution facilities owned, managed and under development in 70 markets in North America, Europe and Asia. ProLogis continues to expand the industry's first and largest global network of distribution facilities with the objective of building shareholder value. The company expects to achieve this through the ProLogis Operating System(R) and its commitment to be 'The Global Distribution Solution' for its customers, providing exceptional facilities and services to meet their expansion and reconfiguration needs.
SOURCE ProLogis
Media, Rick Roth, +1-303-576-2641, rroth@prologis.com, or Shannon Rowe, +1-303-576-2759, media@prologis.com, or Financial, Melissa Marsden, +1-303-576-2622, mmarsden@prologis.com, all of ProLogis; or Suzanne Dawson of Linden Alschuler & Kaplan, Inc., +1-212-329-1420, sdawson@lakpr.com, for ProLogis
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