ProLogis Leases 450,000 Square Feet in Japan

-- Company Announces Development Portfolio Leases With Four Customers --

TOKYO, Dec. 8 /PRNewswire-FirstCall/ --ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has signed new fourth-quarter lease agreements in Japan totaling approximately 450,000 square feet (41,700 square meters) in its development portfolio.

"Our customers are continually evaluating their supply chain networks, which has led to an increase in leasing activity," said Mike Yamada, ProLogis president in Japan. "Businesses are shifting from owning facilities to leasing facilities while others are consolidating distribution operations from older facilities into newer, state-of-the-art distribution centers to increase efficiencies. ProLogis is positioned to capture these opportunities with a well-located, high-quality distribution portfolio in Japan."

Recent activity included:

    --  269,000 square feet (25,000 square meters) leased to Vantec Corporation,
        a third-party logistics provider. The existing ProLogis customer will
        occupy the space at ProLogis Parc Zama I, a 1.2-million-square-foot
        (113,300-square-meter) distribution facility strategically located 25
        miles from downtown Tokyo along Route 246 and the Tomei Expressway.
    --  79,000 square feet (7,300 square meters) leased to Trancom Co., Ltd., a
        Japan-based, third-party logistics provider. Already occupying 93,000
        square feet (8,600 square meters) at ProLogis Parc Ichikawa I, the
        company has expanded its current space and will now occupy a total of
        172,000 square feet (15,900 square meters) in the distribution center.
        ProLogis Parc Ichikawa I is a five-story, 1.3-million-square-foot
        (125,200-square-meter) distribution facility near Tokyo, strategically
        located along the Wangan expressway and Route 357.
    --  61,000 square feet (5,700 square meters) leased to a major parcel
        delivery company. The new ProLogis customer will occupy the space at
        ProLogis Parc Iwanuma I, located in the Sendai market of Japan. The
        customer will utilize the space as a sorting and distribution location
        for it mail delivery services.
    --  40,000 square feet (3,700 square meters) leased to a consulting /
        third-party logistics provider, also at ProLogis Parc Ichikawa I.
        Additional customers at this distribution park include Office Depot,
        Costco, Food Service Network Co., Ltd., United Foods Co., Ltd. and
        Yomiuri Information Service.

ProLogis is a leading provider of distribution space in Japan with approximately 9.2 million square feet (852,200 square meters) completed and under development, as well as 93 acres (37.6 hectares) of land available for future development. Major ProLogis customers in Japan include Kirin Logistics, Caterpillar Logistics Services, Inc., Tomy Company, Yamato Logistics, Konoike Transport, Daikin Industries, Sanyo Electric Logistics and Kintetsu World Express.

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 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