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DENVER-Locally based industrial real estate investment trust ProLogis has filed an amendment to a sales agreement for a "shelf agreement" to issue 5.74 million shares of common stock at its discretion. At a recent value of $53.50 per share, that equates to about $307 million in new issuances.

"We have entered into a sales agreement, as amended, with Cantor Fitzgerald & Co. relating to the common shares of beneficial interest," ProLogis execs say in a Securities and Exchange Commission filing.

This amends an agreement that first was filed in July 2004, when ProLogis filed plans to issue as much as 7.4 million shares. Since then, it has issued about 1.7 million shares, leaving it with about 5.7 million shares. But that doesn't mean that it will issue the 5.7 million shares.