ProLogis Leases 706,000 Square Feet in North America

MEXICO CITY and ONTARIO, Calif., Jan. 18, 2011 /PRNewswire/ -- ProLogis (NYSE: PLD), the leading global provider of distribution facilities, announced today it signed two fourth-quarter lease agreements in previously unleased space in North America, totaling 706,000 square feet.

"We are pleased to bring two additional newly developed facilities to 100 percent leased," said Larry Harmsen, president of North America for ProLogis. "During the past couple quarters overall leasing activity has picked up, and in many markets throughout North America, rents are beginning to flatten, and even rise in some locations. We are optimistic these trends will continue in a positive direction in 2011."

In Ontario, California, ProLogis signed a 562,000-square-foot lease agreement with a large distributor. The customer will occupy the space at ProLogis Park Ontario Airport Building Two, a facility acquired by ProLogis, bringing the building to 100 percent leased.

In Mexico City, ProLogis signed a 144,000-square-foot lease agreement with a global manufacturer, which will occupy the space at ProLogis Park Toluca Building Four, a 449,000-square-foot facility that is now 100 percent leased.

About ProLogis

ProLogis is the leading global provider of distribution facilities, with more than 475 million square feet (44 million square meters) of industrial space owned and managed in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com.

Follow ProLogis on Twitter: http://twitter.com/ProLogis.

SOURCE ProLogis