ProLogis Expanding Its Largest Industrial Park in Italy Following Lease to Alvi S.r.l

MILAN, Italy, Jan. 23 /PRNewswire-FirstCall/ -- ProLogis , a leading global provider of distribution facilities and services, announced today that it is expanding its largest industrial park in Italy following the lease of 120,000 square feet (11,150 square meters) to Alvi S.r.l., an Italian distributor of food and other products and a subsidiary of Gruppo Marazzina.

Alvi has leased the space at ProLogis Park Lodi, a 2.37 million-square- foot (220,000 square meters) industrial park outside Milan. Alvi will use the space to improve the efficiency of its existing distribution network and to enhance the service it offers its customers.

"This transaction underscores the demand we are seeing in Milan for high-quality industrial space," said Ranald Hahn, ProLogis managing director for southern Europe. "As a result of this demand, we are building a new facility at the park that will enable us to accommodate the future growth of our business in this important market. We are pleased to be working with Alvi, and look forward to serving as their industrial facilities provider."

"In siting this facility, we looked not only for an optimal location but for a provider with industry-leading experience and a reputation for the highest quality of service," said Ambrogio and Pierino Marazzina, principals of Gruppo Marazzina.

ProLogis Park Lodi is strategically located about 30 kilometers south of Milan, in Italy's Lodi province. ProLogis acquired the Lodi site in 2003, later developing three new buildings at the park and leasing them to a European logistics services provider. In August last year, the company acquired an adjacent facility that is now 50 percent leased to Alvi, as well as vacant land to allow for additional expansion.

Construction of a seventh distribution center at the park is now underway. The building will comprise 467,000 square feet (43,400 square meters). Completion is expected in the first half of 2006.

"ProLogis Park Lodi offers direct access to the A1, Italy's primary north-south vehicle roadway, and is in an ideal location to serve good-flows throughout the entire country," said Alexandra Lopes, ProLogis vice president and country officer for Italy. "We look forward to working with existing and prospective customers at this location, and expect additional leasing activity at the park in coming quarters."

About ProLogis

ProLogis is a leading provider of distribution facilities and services with 371.9 million square feet (34.6 million square meters) in more than 2,300 distribution facilities owned, managed and under development in 75 markets in North America, Europe and Asia, as of Sept. 30, 2005. ProLogis continues to expand the industry's first and largest global network of distribution facilities with the objective of building shareholder value. The company expects to achieve this through the ProLogis Operating System(R) and its commitment to be 'The Global Distribution Solution' for its customers, providing exceptional facilities and services to meet their expansion and reconfiguration needs.