Real Estate Central

- Transaction Marks 15th Lease and Fifth Build-To-Suit With Hitachi
Transport System Worldwide -

SAGA, Japan, May 15 /PRNewswire-FirstCall/ — ProLogis (NYSE: PLD), the
world’s largest owner, manager and developer of distribution facilities,
announced today it has signed a new build-to-suit agreement in Japan with
Hitachi Transport System, a global provider of third-party logistics
services.

ProLogis will develop a 260,000-square-foot (24,000-square-meter)
distribution center for Hitachi Transport System at ProLogis Parc Kiyama,
located on Kyushu Island in the Saga Prefecture. The company will operate
the facility as a regional distribution center for The AEON Group, a
leading provider of retail and financial services in Japan. With this
transaction, Hitachi Transport System leases a total of four million square
feet (371,000 square meters) with ProLogis in locations across the globe.

“Hitachi Transport System is one of our largest customers in both Japan
and across the globe,” said Mike Yamada, co-president for ProLogis in
Japan. “This agreement marks our fifth build-to-suit and our 15th lease
with the company worldwide. We truly appreciate our relationship with
Hitachi Transport System and are excited to meet the company’s future needs
for distribution space as it continues its global growth.”

Hitachi Transport System will provide logistics services to facilitate
AEON’s retail chain, which operates over 11,000 stores throughout Asia and
Japan, including JUSCO, MaxValu and MINISTOP. The retailer focused on the
Tosu submarket in Saga Prefecture for its excellent access to major highway
systems.

“ProLogis continues to demonstrate a high-priority commitment in
meeting their customer’s needs,” said Takao Suzuki, president and chief
executive officer at Hitachi Transport System. “We continually look to
ProLogis as our preferred provider of high-quality, strategic distribution
space and are extremely pleased to have secured an excellent location for
AEON together.”

ProLogis Parc Kiyama is a 18-acre (73,000-square-meter) parcel of land
situated in the northeastern area of Saga Prefecture in Kiyama City. The
location is ideal for distribution throughout Kyushu with its close
proximity to the Sonobe Interchange, the Tosu-Tsukushino Expressway and the
Tosu Interchange, which connect Kiyama to all areas of Kyushu within three
hours by road. The distribution center also has quick access to key
seaports including Hakata and Kitakyushu, which have major international
shipping lines.

ProLogis has established a $5.9 billion platform of industrial
facilities in Japan since launching operations there in 2002. The company’s
portfolio of properties comprises 35.3 million square feet (3.3 million
square meters) of industrial space owned, managed or under development.
Other major customers in Japan include DHL, Nippon Express, Matsushita
Logistics, Askul, Sanyo Electric Logistics, Seiyu/Wal-Mart, Yamato
Logistics, FedEx and Nikon.

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