ProLogis Expands Global Retail Holdings

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.”