ProLogis Leases 174,000 Square Feet to Canon Near Chicago

CHICAGO, Dec. 17 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has leased approximately 174,000 square feet of recently completed distribution space near Chicago to Canon USA, Inc., a leading manufacturer of copiers, scanners, printers, fax machines and related office and consumer products.

Canon now occupies multiple distribution facilities with ProLogis in Mexico City, northern New Jersey and Chicago. "We are pleased that Canon has selected ProLogis again to expand their distribution network in North America," said Matt Marshall, vice president and Canon customer contact at ProLogis. "ProLogis is proud to support the distribution needs of such a well regarded company."

"Despite challenging economic times, ProLogis has experienced solid new leasing activity during the fourth quarter in Chicago," said Doug Kiersey, senior vice president and Midwest regional director for ProLogis. "This market is one of the most popular distribution hubs in the United States due to its excellent highway access and central Midwestern location."

ProLogis is one of the largest providers of industrial space in the Chicago metro area, with a platform of more than 105 facilities and 23.7 million square feet owned, managed or under development. In November 2008, ProLogis announced a new, 750,500-square-foot lease agreement with Kimberly-Clark near Chicago. Additional ProLogis customers in this market include APL Logistics, Anixter, Clorox, Kuehne + Nagel and UPS Supply Chain Services.

About ProLogis

ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 136 markets across North America, Europe and Asia. The company has $40.8 billion of assets owned, managed and under development, comprising 548 million square feet (51 million square meters) in 2,898 facilities as of September 30, 2008. ProLogis' customers include 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 December 17, 2008