ProLogis Leases More than 300,000 Square Feet to Logistics Providers in Central Ohio

- SpeedFC and Menlo Worldwide Logistics Sign New Agreements for Space at ProLogis Park 70-Etna in Columbus -

DENVER, Jan. 31 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has leased 308,000 square feet of industrial space to two providers of third-party logistics services at ProLogis Park 70-Etna, a new industrial park currently under development outside Columbus, Ohio.

Both customers are expanding their presence at the park. Texas-based SpeedFC has signed a new agreement for 158,000 square feet in the second building at the park, bringing SpeedFC's total leased area to 318,000 square feet. SpeedFC will use the space to accommodate the growth of its business, providing third-party fulfillment, call center and Web development services to consumer and business-to-business companies.

California-based Menlo Worldwide Logistics (NYSE: CNW) has signed an agreement that will significantly expand its operations in Columbus with an additional 150,000 square feet at the industrial park. The expansion will help Menlo serve growing business volumes for warehousing and distribution operations for existing and new customers. Menlo currently leases 311,000 square feet in the first building at the park and a total of 1.6 million square feet from ProLogis at 11 locations across North America, Europe and Asia.

"We're very pleased to announce these new transactions with repeat customers at ProLogis Park 70-Etna," said Brian Marsh, senior vice president and regional head of operations for ProLogis. "A number of our third-party logistics customers are seeking expansion space in the Midwest, driven in part by recent growth in manufacturing. ProLogis Park 70-Etna, which is located in central Ohio, is ideally situated to capitalize on this trend due to its proximity to the country's manufacturing base and major multimodal transit corridors. We look forward to further developing the park to meet the growing needs of our customers in the area."

ProLogis Park 70-Etna is a 220-acre master-planned park offering strategic access to major roadways as well as Port Columbus International Airport and the new Rickenbacker Intermodal Terminal. The park currently consists of three facilities totaling approximately 1.6 million square feet; one of which is being developed to meet the qualifications for a silver "Leadership in Energy and Environmental Design" (LEED) certification from the U.S. Green Building Council (USGBC). At full build-out the park will feature five facilities comprising 3.4 million square feet.

ProLogis is one of the leading providers of industrial distribution facilities in central Ohio, with more than 11 million square feet of industrial space owned, managed or under development. The company also has land positions that can accommodate more than 3 million square feet of additional distribution space. Other ProLogis customers in Columbus include Nippon Express, JELD-WEN, Office Depot, FedEx, Phoenix Brands, and Kraft.

About ProLogis

ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 20 countries across North America, Europe and Asia. The company has $34.4 billion of assets owned, managed and under development, comprising 483.0 million square feet (44.9 million square meters) in 2,669 properties as of September 30, 2007. 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 more than 1,300 people worldwide. For additional information about the company, go to http://www.prologis.com.

SOURCE ProLogis

Released January 31, 2008