ProLogis to Develop 247,000 Square Feet of Warehouse Space in the Netherlands for European Communications Distributor

AMSTERDAM, The Netherlands, Oct. 13 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it will develop 247,000 square feet (29,000 square meters) of warehouse space in the Netherlands for one of Europe's largest communications distributors.

ProLogis will build the facility at ProLogis Park Stichtsekant, a new distribution park located just outside Amsterdam in the city of Almere, one of the fastest growing cities in the Netherlands, next to the A27 highway. The customer plans to use the warehouse for regional distribution, serving its network of customers throughout the Netherlands and Belgium. Construction on the facility is scheduled to begin before the end of the year.

"We are very pleased to have completed this transaction in Almere," said Christian Bischoff, managing director for ProLogis in northern Europe. "ProLogis continues to sign new build-to-suit agreements with strong credit customers in major distribution markets across northern Europe. We believe this is driven by our solid customer relationships, diverse portfolio and strategic focus on developing high quality warehouse space near multiple modes of transit and large population centers."

ProLogis Park Stichtsekant is ideally situated near the "Randstad" metropolitan area, which is the most populated region in the Netherlands, approximately 30 kilometers from the Port of Amsterdam, the fourth largest seaport in Europe. In addition, Almere is planning to develop a container terminal at the park, which will further support the growing demand for break-bulk facilities near the capital and multiple modes of transit.

ProLogis is one of the largest providers of distribution space in northern Europe, owning or managing more than 26 million square feet (2.3 million square meters) across five countries, as of June 30, 2008.

About ProLogis

ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 132 markets across North America, Europe and Asia. The company has $40.4 billion of assets owned, managed and under development, comprising 542.3 million square feet (50.4 million square meters) in 2,884 properties as of June 30, 2008. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs over 1,500 people worldwide. For additional information about the company, go to http://www.prologis.com.

SOURCE ProLogis

Released October 13, 2008