ProLogis Signs New Leases Totaling 910,000 Square Feet With Kuehne + Nagel in Europe

AMSTERDAM, June 2 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the
world's largest owner, manager and developer of distribution facilities,
announced today that it has signed new lease agreements totaling 910,000
square feet (84,500 square meters) at two major distribution parks in
Europe with Kuehne + Nagel, a leading global logistics provider and one of
ProLogis' multi-continent customers.

The first lease, totaling 540,000 square feet (50,200 square meters),
is for space at ProLogis Park Wellingborough, a 1.15 million-square-foot
(107,000 square-meter) distribution park located in England's East Midlands
area. Kuehne + Nagel plans to operate the facility on behalf of several
clients including Whitbread plc, the U.K.'s largest hotel and restaurant
company.

The second lease, totaling 370,000 square feet (34,400 square meters),
is at ProLogis Park Isle d' Abeau, a 4.5 million-square-foot (418,000
square- meter) distribution park located in the city of Lyon, France.
Kuehne + Nagel operates the space as a multi-user site serving customers
throughout southern France.

"ProLogis has one of the most geographically diverse platforms in the
industry," said Gary Anderson, president of ProLogis in Europe. "We have
the distinctive ability to meet our customers' strategic supply chain needs
in more than 120 markets worldwide. The breadth of our portfolio, combined
with our commitment to nurturing customer relationships, has been
fundamental to supporting continued leasing activity in our inventory space
throughout Europe."

ProLogis Park Wellingborough is located in the East Midlands, a top UK
distribution location. The park comprises three, fully-occupied facilities
and offers strategic access to several major highways including the A14,
A45 and M1. Other customers at the park include Monsoon Accessories and
Homebase.

ProLogis Park Isle d' Abeau in France is located 10 minutes from the
Lyon international airport, 20 minutes from central Lyon and 30 minutes
from Grenoble. The park provides direct access to the A43 motorway and is
in a prime location for distribution to Paris, Marseille, Milan and
Barcelona via the A6/A7 motorway. ProLogis owns 16 facilities in the park.

The Kuehne + Nagel Group is one of the world's leading logistics
providers with 850 offices in more than 100 countries and more than 52,000
employees.

ProLogis is one of the largest providers of distribution space in
Europe with more than 119 million square feet (11 million square meters) of
space owned, managed or under development, as of March 31, 2008.

About ProLogis

ProLogis is the world's largest owner, manager and developer of
distribution facilities, with operations in 121 markets across North
America, Europe and Asia. The company has $38.8 billion of assets owned,
managed and under development, comprising 526.3 million square feet (48.9
million square meters) in 2,817 properties as of March 31, 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.



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Source: Real Estate Newswire