ProLogis Leases 333,000 Square Feet at Newly Developed Industrial Warehouse in Japan

TOKYO, June 27 /PRNewswire-FirstCall/ -- ProLogis , the world's largest owner, manager and developer of distribution facilities, announced today that it has leased more than 333,000 square feet (30,900 square meters) in Japan to a global manufacturer of consumer and industrial products.

(Photo: http://www.newscom.com/cgi-bin/prnh/20070627/LAW046 )

The customer has leased the space at ProLogis Parc Osaka II, a 1.4-million square foot (130,600-square-meter) industrial warehouse located at the Port of Osaka, one of Japan's primary logistics hubs. The eight-story building, which opened earlier this month, will function as a global distribution facility serving the customer's network of parts centers throughout the world.

"Our extensive portfolio of industrial properties around the Port of Osaka continues to attract leading Japanese companies looking to maximize the efficiency of their supply chain operations," said Mike Yamada, co-president of Japan for ProLogis. "We're extremely pleased to have signed this new agreement so soon after completing construction of this state-of-the-art facility."

ProLogis' operating portfolio in Osaka's port submarket comprises 10 facilities totaling 7.8 million square feet (725,000 square meters). Another distribution center, ProLogis Park Maishima III, is currently under construction and scheduled for completion in the first half of 2008.

At March 31, 2007, ProLogis' had 23.6 million square feet (2.2 million square meters) of industrial space owned, managed and under development in Japan, representing a total investment of more than US$3.3 billion. Major customers in Japan include Askul, Hitachi Transport System, Nippon Express, Panasonic, Senko, Sanyo Electric Logistics and Shinkai Group.

About ProLogis

ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 103 markets across North America, Europe and Asia. The company has $28.6 billion of assets owned, managed and under development, comprising 436.9 million square feet (40.6 million square meters) in 2,525 properties as of March 31, 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/.