UK Region of ProLogis Signs Record Amount of Pre-Leased Development Agreements in First Quarter

Apr 25, 2001, 01:00 ET from ProLogis

    WEST MIDLANDS, United Kingdom, April 25 /PRNewswire/ -- ProLogis
 (NYSE:   PLD), a leading global provider of distribution services and
 facilities, announced today that its corporate distribution facilities
 development organization in the United Kingdom signed a record 1.4 million
 square feet (130,000 Sq. Meters) of pre-leased development agreements in the
 first quarter of 2001.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990420/PROLOGIS )
 
     Agreements signed in the first quarter include:
 
     -- A new 555,000 square foot (51,600 Sq. Meters) facility under a 15-year
        lease agreement with Dunlop Tyres at ProLogis Park Bromford in
        Birmingham, immediately adjoining the M6 motorway and adjacent to the
        Fort Retail Park.  Completion is scheduled for May 2002.  ProLogis may
        also develop an additional 32 acres at this park over the next 24
        months, permitting development of an additional 600,000 square feet
        (55,700 Sq. Meters) of distribution space in this high profile
        location.
 
     -- A 148,000 square foot (13,700 Sq. Meters) facility at Thurrock, for
        Eagle Logistics, scheduled for completion in November 2001.  An
        adjoining 85,000 square foot (7,900 Sq. Meters) inventory facility at
        this site will be available in late 2001.
 
     -- A 310,000 square foot (28,800 Sq. Meters) facility under a 15-year
        lease for Exel, with its client, Safeway, at ProLogis Park Coventry.
        This is the second agreement with Exel at ProLogis Park Coventry,
        following the lease of 180,000 square feet (16,700 Sq. Meters) with
        Exel in the third quarter of 2000.
 
     -- Another 177,000 square foot (16,400 Sq. Meters) facility for Exel, with
        their client Selfridges, at ProLogis' Powerpoint development in Hams
        Hall.  ProLogis now can proceed with the second phase of 160,000 square
        feet (14,900 Sq. Meters).
 
     Alan Curtis, managing director of ProLogis, said, "The Midlands market
 remains quite attractive to customers seeking a strategic location for
 distributing throughout the UK, as evidenced by the volume of transactions
 completed in the first quarter.  Demand for large distribution facilities
 continues to be very strong and the existing supply of high quality
 distribution space is not sufficient to satisfy this demand.  In addition,
 occupancy remains high while practically all new space completed in 2000 is
 fully leased."
     Other agreements signed during the first quarter include fee development
 agreements for 85,000 square feet (7,900 Sq. Meters) with UCI Logistics at
 Tamworth Relay Park and 120,000 square feet (11,100 Sq. Meters) with US-based
 Ideal Hardware at Hams Hall.
     In addition to these new agreements, during the first quarter, ProLogis
 delivered facilities of 165,000 square feet (15,300 Sq. Meters) in Leicester
 to Metalbox and 230,000 square feet (21,400 Sq. Meters) to Wolseley at
 ProLogis Park Bedford.
 
     ProLogis is a leading global provider of integrated distribution
 facilities and services, with 1,700 distribution facilities owned, operating
 or under development throughout North America and Europe.  ProLogis has built
 the industry's first and only global network of distribution facilities with
 the primary objective to build shareholder value by becoming the leading
 provider of distribution services.  The company expects to achieve this
 objective through the ProLogis Operating System(TM) and its commitment to be
 'The Global Distribution Solution' by providing exceptional corporate
 distribution services and facilities to meet customer expansion and
 reconfiguration needs globally.  As of March 31, 2001, ProLogis owned, managed
 or had under development a total of 196.9 million square feet
 (18.3 million Sq. Meters) of distribution facilities, in 98 global markets.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X90531957
 
 

SOURCE ProLogis
    WEST MIDLANDS, United Kingdom, April 25 /PRNewswire/ -- ProLogis
 (NYSE:   PLD), a leading global provider of distribution services and
 facilities, announced today that its corporate distribution facilities
 development organization in the United Kingdom signed a record 1.4 million
 square feet (130,000 Sq. Meters) of pre-leased development agreements in the
 first quarter of 2001.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990420/PROLOGIS )
 
     Agreements signed in the first quarter include:
 
     -- A new 555,000 square foot (51,600 Sq. Meters) facility under a 15-year
        lease agreement with Dunlop Tyres at ProLogis Park Bromford in
        Birmingham, immediately adjoining the M6 motorway and adjacent to the
        Fort Retail Park.  Completion is scheduled for May 2002.  ProLogis may
        also develop an additional 32 acres at this park over the next 24
        months, permitting development of an additional 600,000 square feet
        (55,700 Sq. Meters) of distribution space in this high profile
        location.
 
     -- A 148,000 square foot (13,700 Sq. Meters) facility at Thurrock, for
        Eagle Logistics, scheduled for completion in November 2001.  An
        adjoining 85,000 square foot (7,900 Sq. Meters) inventory facility at
        this site will be available in late 2001.
 
     -- A 310,000 square foot (28,800 Sq. Meters) facility under a 15-year
        lease for Exel, with its client, Safeway, at ProLogis Park Coventry.
        This is the second agreement with Exel at ProLogis Park Coventry,
        following the lease of 180,000 square feet (16,700 Sq. Meters) with
        Exel in the third quarter of 2000.
 
     -- Another 177,000 square foot (16,400 Sq. Meters) facility for Exel, with
        their client Selfridges, at ProLogis' Powerpoint development in Hams
        Hall.  ProLogis now can proceed with the second phase of 160,000 square
        feet (14,900 Sq. Meters).
 
     Alan Curtis, managing director of ProLogis, said, "The Midlands market
 remains quite attractive to customers seeking a strategic location for
 distributing throughout the UK, as evidenced by the volume of transactions
 completed in the first quarter.  Demand for large distribution facilities
 continues to be very strong and the existing supply of high quality
 distribution space is not sufficient to satisfy this demand.  In addition,
 occupancy remains high while practically all new space completed in 2000 is
 fully leased."
     Other agreements signed during the first quarter include fee development
 agreements for 85,000 square feet (7,900 Sq. Meters) with UCI Logistics at
 Tamworth Relay Park and 120,000 square feet (11,100 Sq. Meters) with US-based
 Ideal Hardware at Hams Hall.
     In addition to these new agreements, during the first quarter, ProLogis
 delivered facilities of 165,000 square feet (15,300 Sq. Meters) in Leicester
 to Metalbox and 230,000 square feet (21,400 Sq. Meters) to Wolseley at
 ProLogis Park Bedford.
 
     ProLogis is a leading global provider of integrated distribution
 facilities and services, with 1,700 distribution facilities owned, operating
 or under development throughout North America and Europe.  ProLogis has built
 the industry's first and only global network of distribution facilities with
 the primary objective to build shareholder value by becoming the leading
 provider of distribution services.  The company expects to achieve this
 objective through the ProLogis Operating System(TM) and its commitment to be
 'The Global Distribution Solution' by providing exceptional corporate
 distribution services and facilities to meet customer expansion and
 reconfiguration needs globally.  As of March 31, 2001, ProLogis owned, managed
 or had under development a total of 196.9 million square feet
 (18.3 million Sq. Meters) of distribution facilities, in 98 global markets.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X90531957
 
 SOURCE  ProLogis