Article: ProLogis to Develop New Facility for Hi-Logistics in the Netherlands.

- Transaction Represents ProLogis' Redefined Approach To Development, Monetizing its Land Bank With Reduced Risk -

AMSTERDAM, July 13 /PRNewswire-FirstCall/ -- ProLogis , a leading global provider of distribution facilities, announced today that it will develop a new, 554,000-square-foot (51,500-square-meter) distribution facility in The Netherlands for Hi-Logistics, a wholly owned logistics subsidiary of LG Electronics.

"Since October of 2008, we've taken some major steps to reduce the overall level of risk in our business," said Walter Rakowich, ProLogis chief executive officer. "A part of this process has been to redefine how we approach new ...

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