ProLogis Leases More Than 645,000 Square Feet in Japan

- New ProLogis Customer Leases 82 Percent of ProLogis Parc Ichikawa II Prior to the Building's Completion in October 2009 -

TOKYO, July 15 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has leased more than 645,000 square feet (60,000 square meters) of distribution space currently under construction in Japan.

ProLogis has signed a lease agreement with a leading Japanese manufacturer, which will occupy the space at ProLogis Parc Ichikawa II.

"With this transaction, the facility is now 82 percent leased prior to its completion this fall," said Mike Yamada, president of Japan for ProLogis. "We are receiving steady interest from our customers for the remainder of the space at this facility and anticipate having it fully leased before the building opens in November 2009."

Once complete, ProLogis Parc Ichikawa II will be a five-story, 790,000-square-foot (73,400-square-meter) distribution facility built on land owned by ProLogis near Tokyo in the Chiba Prefecture. Features of the building will include a seismic isolation system, two one-way spiral truck ramps, a cafeteria and a convenience store. The park's location gives ProLogis customers excellent access to major national expressways, the Wangan Expressway and the Keiyo Expressway.

ProLogis is one of the largest providers of distribution space in Japan with approximately 8.2 million square feet (761,500 square meters) completed and under development, as well as 98 acres (390,000 square meters) of land available for future development. Major ProLogis customers in Japan include Yamato Logistics, Konoike Transport, Costco, 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 http://www.prologis.com.

SOURCE ProLogis

Released July 15, 2009