NEW YORK CITY-Executives at ProLogis, one of the largest international industrial-property owners, are looking to expand the Denver-based company's retail and mixed-use asset base, they said here at an investors meeting. By 2010, management forecasts that it will have between $600 million and $800 million in annual development starts in North America, Asia and Europe, up from its current $1.3 billion in holdings.

“Mixed use and retail represents a great opportunity for us,” says Ted Antenucci, ProLogis' president of global development. “There's pretty good upside in some of these deals. It made sense to grow the business.”

In North America, the company is targeting retail with large anchor stores as part of larger, multi-use developments near urban areas with infill opportunities, such as developments it has done on former bases and industrial plants. For example, in Austin, TX, it is redeveloping the former Robert Mueller Municipal Airport, where 220,000 sf of retail recently opened, and up to an additional 480,000 sf is planned.