Real Estate Central

VIENNA, Austria, June 25 /PRNewswire-FirstCall/ — ProLogis (NYSE:
PLD), the world’s largest owner, manager and developer of distribution
facilities, announced today that it is developing its first distribution
facilities in Austria.

The company has started construction on the first of two planned
distribution centers that will comprise ProLogis Park Himberg, a new
industrial park located just outside the capital city of Vienna, in close
proximity to the S1 highway and other major roads comprising Austria’s
north-south and east-west transportation corridors. ProLogis expects to
complete the 352,000-square-foot (32,700 square meters) facility in early
2009.

“Our recent entry into Austria is part of our global strategy to
provide our customers with exceptional distribution services and space that
meets their expansion and reconfiguration needs,” said Christian Bischoff,
managing director of ProLogis in northern Europe. “We have been
investigating the country’s property markets for over a year and have noted
a growing trend among Austrian companies to outsource their logistics
requirements as foreign trade continues to grow. Historically, these
companies have owned their logistics facilities, resulting in an extremely
low inventory of available-for-lease distribution space. We are pleased to
be developing our initial distribution park in Vienna, which will support
the growing demand for modern warehouse space we are seeing from the
region’s manufacturers, retailers and third-party logistics providers.”

Vienna is the largest city in Austria with more than 2.2 million
people. Located along the Danube River, a major pan-European trade route,
its well-established transportation network includes the country’s largest
inner harbor, a major international airport, three Autobahns and one of the
best railway systems in Europe. In addition, more than 300 international
corporations have established their central and eastern European
headquarters in Vienna, including ProLogis’ global customers DHL, Schenker,
Kuehne + Nagel, Volvo and Hewlett Packard.

“We believe there is substantial opportunity for ProLogis to develop a
market-leading platform in Austria,” said Manfred Jenschke, market officer
of southeast Germany for ProLogis. “Initially, we plan to focus our
development efforts in the Vienna market, which offers a strong economic
base, strategic geographical position and a highly qualified workforce.
This will be followed by Graz and Linz, two emerging trade hubs with
unmatched access to the northern and southern regions of Europe. Already,
we are experiencing interest and look forward to working with our customers
at our new park.”

ProLogis is the largest provider of distribution facilities in Europe,
with more than 119 million square feet (11 million square meters) owned,
operated or under development, valued at over $11 billion.

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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[Via Real Estate Newswire]