ProLogis Provides Build To Suit Facility For Subaru

WESTAMPTON, N.J., Jan. 24 ProLogis a leading global provider of distribution services and facilities, announced today that it has signed a 10-year lease with Subaru of America, Inc. for a 302,372 square foot build-to-suit facility in Rancocas East Park, strategically located between exit 45 of I-295 and Exit 5 of the New Jersey Turnpike. The building will serve as Subaru's master parts distribution center as well as a service training and regional sales office facility.

ProLogis analyzed several sites and recommended the Rancocas location primarily due to its close proximity to the current Subaru parts distribution facility and its convenient access to I-295 and the New Jersey Turnpike. Construction commenced in December 2001 with completion scheduled for August.

``The local expertise of ProLogis associates was critical in assisting us with the site selection process,'' said Stephen Gale, Director, Corporate Facilities and Services, Subaru of America, Inc. He added, ``ProLogis' ability to provide a high-quality, state-of-the-art facility in an ideal location made them the very best choice for the project.''

``We analyzed as many as 8 locations from southern to central New Jersey for Subaru. In the end, the Westampton site was ideal for Subaru. The site allows Subaru to retain its existing workforce, which was critically important to them, and to maintain existing relationships with a competitive network of transportation providers,'' said Gary Anderson, First Vice President for ProLogis.

Subaru's relationship with ProLogis dates back to 1998, when ProLogis acquired the facility that serves as Subaru's Southeast US Distribution Center in suburban Atlanta.

Greg Skirving, Vice President for ProLogis, stated, ``We have worked steadily with Subaru for several years to satisfy their need for growth and flexibility. This new parts distribution center represents our ongoing commitment to serve our customers' needs and provide the very best solutions throughout multiple markets in their supply chain.''