ProLogis Announces Leases in Three Newly Developed U.S. Facilities

- Company Leases 174,000 Square Feet in the Inland Empire, Seattle and South Florida -

News provided by

ProLogis

Mar 11, 2010, 07:00 ET

DENVER, March 11 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has signed lease agreements totaling approximately 174,000 square feet to three customers in the United States.

"These first-quarter transactions bring leasing in three newly developed facilities in our U.S. development portfolio to 100 percent," said Larry Harmsen, ProLogis president of the United States and Canada. "While the industrial markets are still relatively soft, increasing occupancies and the lack of new supply continue to foster a more stable environment. We are encouraged by these early signs of fundamental improvement in our business."

Recent activity included leases with:

  • A leading healthcare company in the Inland Empire of Southern California, which will occupy 103,000 square feet at ProLogis Park Redlands, making Building Six at the park fully leased.
  • Associated Global Systems, a third-party logistics provider, in Southern Florida. The company will occupy 54,000 square feet at ProLogis Park Pompano Beach, making Building Two at the park fully leased.
  • A third-party logistics provider in Seattle, which will occupy 17,000 square feet at ProLogis Park SeaTac, making Building Two at the park fully leased.

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including 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.

Follow ProLogis on Twitter: http://twitter.com/ProLogis_.

SOURCE ProLogis

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