PROLOGIS, INC. AND PROLOGIS, L.P.

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2014

(In thousands of U.S. dollars, as applicable)


	No. of Bldgs.				Initial Cost to Prologis						Costs Capitalized Subsequent To Acquisition				Gross Amounts At Which Carried at December 31, 2014									Accumulated Depreciation (c)				Date of Construction/ Acquisition
Description	No. of Bldgs.		Encum- brances		Land			Building & Improvements			Costs Capitalized Subsequent To Acquisition				Land			Building & Improvements			Total (a,b)			Accumulated Depreciation (c)				Date of Construction/ Acquisition
Industrial Operating Properties (d)
North American Markets:
United States:
Atlanta, Georgia
Atlanta Airport Dist Ctr		3	(d)			2,510			10,830			126				2,510			10,956			13,466			(86)			2014
Atlanta NE at Sugarloaf		1	(d)			620			2,621			28				620			2,649			3,269			(20)			2014
Atlanta NE Distribution Center		8	(d)			5,582			3,047			30,356				6,276			32,709			38,985			(17,908)			1996, 1997
Atlanta South Business Park		9				5,353			28,895			2,478				5,353			31,373			36,726			(4,056)			2011
Atlanta West Distribution Center		6	(d)			6,684			23,463			9,898				6,684			33,361			40,045			(11,543)			1994, 2006, 2012
Berkeley Lake Distribution Center		1	(d)			2,046			8,712			742				2,046			9,454			11,500			(2,048)			2006
Breckenridge Dist Ctr		1	(d)			1,645			7,030			-				1,645			7,030			8,675			(55)			2014
Buford Distribution Center		1				1,487			-			5,577				1,487			5,577			7,064			(1,219)			2007
Carter-Pacific Bus Ctr		3	(d)			1,484			6,269			12				1,484			6,281			7,765			(69)			2014
Cobb Place Dist Ctr		2	(d)			2,970			12,702			218				2,970			12,920			15,890			(1,413)			2012
Dekalb Ind Ctr		1				1,401			6,154			1,451				1,401			7,605			9,006			(819)			2012
Douglas Hill Distribution Center		4				11,599			46,826			3,674				11,677			50,422			62,099			(15,482)			2005
Hartsfield East DC		1				697			6,466			268				697			6,734			7,431			(703)			2011
Horizon Distribution Center		1				2,846			11,385			1,515				2,846			12,900			15,746			(2,699)			2006
Macon Dist Ctr		1				604			2,691			633				604			3,324			3,928			(438)			2012
Midland Distribution Center		1				1,919			7,679			1,506				1,919			9,185			11,104			(2,723)			2006
Northeast Industrial Center		3				3,142			14,036			2,706				3,142			16,742			19,884			(3,762)			1996, 2012
Northmont Industrial Center		1				566			3,209			1,482				566			4,691			5,257			(3,250)			1994
Olympic Ind Ctr		2	(d)			2,156			9,417			15				2,156			9,432			11,588			(107)			2014
Park I-75 South		1				8,369			-			35,435				8,382			35,422			43,804			(1,151)			2013
Peachtree Corners Business Center		4				707			4,685			2,342				707			7,027			7,734			(4,800)			1994
Piedmont Ct. Distribution Center		2				885			5,013			3,929				885			8,942			9,827			(5,731)			1997
Riverside Distribution Center (ATL)		4	(d)			3,306			16,750			4,300				3,329			21,027			24,356			(9,692)			1999, 2014
Southfield-KRDC Industrial SG		8				5,033			28,725			1,837				5,033			30,562			35,595			(4,634)			2011
Southside Distribution Center		1				1,186			2,859			595				1,186			3,454			4,640			(589)			2011
Suwanee Creek Dist Ctr		2				1,045			4,201			202				1,045			4,403			5,448			(448)			2010, 2013
Tradeport Distribution Center		3	(d)			1,464			4,563			8,022				1,479			12,570			14,049			(7,923)			1994, 1996
Weaver Distribution Center		2				935			5,182			2,351				935			7,533			8,468			(5,243)			1995
Westfork Industrial Center		2	(d)			579			3,910			428				579			4,338			4,917			(2,749)			1995
Westgate Ind Ctr		1				1,277			5,620			214				1,277			5,834			7,111			(757)			2012

Atlanta, Georgia		80				80,097			292,940			122,340				80,920			414,457			495,377			(112,117)

Austin, Texas
Corridor Park Corporate Center		4				4,579			19,046			75				4,579			19,121			23,700			(1,024)			2014
MET 4-12 LTD		1				4,300			20,456			268				4,300			20,724			25,024			(2,743)			2011
MET PHASE 1 95 LTD		4				5,593			17,211			1,286				5,593			18,497			24,090			(2,474)			2011
Montopolis Distribution Center		1				580			3,384			2,585				580			5,969			6,549			(4,257)			1994
Southpark Corporate Center		3				1,470			6,154			1				1,470			6,155			7,625			(47)			2014
Walnut Creek Corporate Center		17	(d)			11,152			49,110			411				11,206			49,467			60,673			(3,468)			1994, 2014

Austin, Texas		30				27,674			115,361			4,626				27,728			119,933			147,661			(14,013)

Baltimore/Washington
1901 Park 100 Drive		1	(d)			2,409			7,227			1,148				2,409			8,375			10,784			(2,616)			2006
Airport Commons Distribution Center		2	(d)			2,320			-			10,570				2,360			10,530			12,890			(4,648)			1997
Beltway Distribution		1				9,211			33,922			426				9,211			34,348			43,559			(4,486)			2011
BWI Cargo Center E		1				-			10,725			108				-			10,833			10,833			(4,598)			2011
Corcorde Industrial Center		4	(d)			1,538			8,717			4,711				1,538			13,428			14,966			(8,832)			1995
Corridor Industrial		1				1,921			7,224			12				1,921			7,236			9,157			(975)			2011
Crysen Industrial		1				2,285			6,267			454				2,285			6,721			9,006			(1,001)			2011
Gateway Bus Ctr		10	(d)			30,263			26,530			36,269				30,400			62,662			93,062			(849)			2012, 2014
Gateway Distribution Center		3				2,523			5,715			4,817				3,164			9,891			13,055			(2,539)			1998, 2012
Granite Hill Dist. Center		2				2,959			9,344			74				2,959			9,418			12,377			(1,551)			2011
Greenwood Industrial		3				6,828			24,253			583				6,828			24,836			31,664			(3,379)			2011
Hampton Central Dist Ctr		3	(d)			8,928			28,015			64				8,928			28,079			37,007			(214)			2014
IAD Cargo Center 5		1				-			43,060			75				-			43,135			43,135			(25,257)			2011
Meadowridge Distribution Center		3	(d)			7,827			18,990			6,527				7,972			25,372			33,344			(3,134)			1998, 2014
Meadowridge Industrial		3				4,845			20,576			4,091				4,845			24,667			29,512			(2,769)			2011
Patuxent Range Road		2				2,281			9,638			1,243				2,281			10,881			13,162			(1,472)			2011
Preston Court		1				2,326			10,146			202				2,326			10,348			12,674			(1,372)			2011
ProLogis Park - Dulles		7	(d)			16,703			36,268			576				16,703			36,844			53,547			(2,189)			2012, 2014
Troy Hill Dist Ctr		3	(d)			9,179			31,489			27				9,179			31,516			40,695			(1,298)			2012, 2014

Baltimore/Washington		52				114,346			338,106			71,977				115,309			409,120			524,429			(73,179)

Boston, Massachusetts
Boston Industrial		4				11,810			25,975			(238	)			11,810			25,737			37,547			(5,254)			2011

Boston, Massachusetts		4				11,810			25,975			(238	)			11,810			25,737			37,547			(5,254)

Central & Eastern, Pennsylvania
Carlisle Dist Ctr		6	(d)			54,852			233,619			6,048				54,852			239,667			294,519			(15,392)			2012, 2013
Chambersburg Dist Ctr		1				4,188			17,796			76				4,188			17,872			22,060			(924)			2013
Harrisburg Distribution Center		5				21,950			96,007			1,946				21,950			97,953			119,903			(9,168)			2004, 2013
Harrisburg Industrial Center		1				782			6,190			1,581				782			7,771			8,553			(2,461)			2002
I-78 Dist. Center		1				13,030			30,007			335				13,030			30,342			43,372			(3,655)			2011
I-81 Distribution		1				1,822			21,583			328				1,822			21,911			23,733			(2,575)			2011
Kraft Distribution Center		1				7,450			23,863			-				7,450			23,863			31,313			(187)			2014
Lehigh Valley Distribution Center		8	(d)			26,795			89,400			24,540				26,875			113,860			140,735			(7,994)			2004, 2010, 2013, 2014
Northport Ind Ctr		1	(d)			12,282			39,621			1				12,282			39,622			51,904			(314)			2014
Park 33 Distribution Center		2				28,947			49,500			41,138				31,207			88,378			119,585			(6,061)			2007, 2014
PHL Cargo Center C2		1				-			11,966			25				-			11,991			11,991			(4,327)			2011
Pottsville Dist Ctr		1				4,486			19,527			907				4,486			20,434			24,920			(2,249)			2012
Quakertown Distribution Center		1				6,966			-			27,698				6,966			27,698			34,664			(5,960)			2006

Central & Eastern, Pennsylvania		30				183,550			639,079			104,623				185,890			741,362			927,252			(61,267)

Central Valley, CA
Arch Road Logistics Center		2	(d)			9,492			38,060			2,310				9,492			40,370			49,862			(5,680)			2010
Central Valley Distribution Center		3	(d)			5,339			32,838			526				5,339			33,364			38,703			(266)			2014
Central Valley Industrial Center		5	(d)			14,110			65,026			8,648				14,560			73,224			87,784			(25,728)			1999, 2002, 2005, 2014
Chabot Commerce Ctr		2				5,222			13,697			6,601				5,222			20,298			25,520			(3,516)			2011
Duck Creek Dist Ctr		1	(d)			6,690			39,683			-				6,690			39,683			46,373			(300)			2014
Manteca Distribution Center		1				9,280			27,840			591				9,480			28,231			37,711			(8,733)			2005
Patterson Pass Business Center		4	(d)			10,004			27,878			7,397				10,017			35,262			45,279			(3,868)			2007, 2012, 2014
Tracy Dist Ctr		1	(d)			2,056			12,248			-				2,056			12,248			14,304			(93)			2014
Tracy II Distribution Center		5				23,905			32,080			152,468				29,246			179,207			208,453			(19,640)			2007, 2009, 2012, 2013

Central Valley, CA		24				86,098			289,350			178,541				92,102			461,887			553,989			(67,824)

Charlotte, North Carolina
Charlotte Distribution Center		11	(d)			6,596			8,581			28,810				8,114			35,873			43,987			(15,719)			1995, 1996, 1997, 1998, 2014
Northpark Distribution Center		2	(d)			1,183			6,707			2,919				1,184			9,625			10,809			(6,353)			1994, 1998
West Pointe Business Center		5	(d)			12,138			40,423			9,893				12,138			50,316			62,454			(4,220)			2006, 2012, 2014

Charlotte, North Carolina		18				19,917			55,711			41,622				21,436			95,814			117,250			(26,292)

Chicago, Illinois
Addison Business Center		1				1,293			2,907			515				1,293			3,422			4,715			(488)			2011
Addison Distribution Center		1				640			3,661			1,834				640			5,495			6,135			(3,037)			1997
Alsip Distribution Center		1				1,416			9,009			9,086				1,724			17,787			19,511			(12,168)			1997
Alsip Industrial		1				1,422			2,336			22				1,422			2,358			3,780			(670)			2011
Arlington Heights Distribution Center		1				831			3,326			2,345				831			5,671			6,502			(1,582)			2006
Bensenville Distribution Center		1				926			3,842			6,319				940			10,147			11,087			(7,198)			1997
Bensenville Ind Park		13				37,681			92,909			5,219				37,681			98,128			135,809			(14,800)			2011
Bloomingdale 100 Business Center		4	(d)			6,563			27,579			68				6,563			27,647			34,210			(210)			2014
Bolingbrook Distribution Center		6	(d)			19,068			85,317			5,355				19,068			90,672			109,740			(27,639)			1999, 2006, 2014
Bridgeview Dist Ctr		4	(d)			1,662			7,726			-				1,662			7,726			9,388			(92)			2014
Bridgeview Industrial		1				1,380			3,404			404				1,380			3,808			5,188			(616)			2011
Chicago Industrial Portfolio		1				1,330			2,876			423				1,330			3,299			4,629			(561)			2011
Des Plaines Distribution Center		3				2,158			12,232			6,884				2,159			19,115			21,274			(12,660)			1995, 1996
Elk Grove Distribution Center		20	(d)			30,227			78,013			49,831				30,227			127,844			158,071			(50,971)			1995, 1996, 1997, 1999, 2006, 2009
Elk Grove Du Page		21	(d)			14,830			64,408			10,528				14,830			74,936			89,766			(8,108)			2012
Elk Grove Village SG		6				6,367			12,010			859				6,367			12,869			19,236			(2,314)			2011
Elmhurst Distribution Center		1				713			4,043			1,240				713			5,283			5,996			(3,345)			1997
Executive Drive		1				1,371			6,430			509				1,371			6,939			8,310			(887)			2011
Glendale Heights Distribution Center		3	(d)			3,903			22,119			4,423				3,903			26,542			30,445			(14,410)			1999
Gurnee Dist Ctr		2				2,297			9,991			-				2,297			9,991			12,288			(97)			2014
Hintz Building		1				354			1,970			103				354			2,073			2,427			(289)			2011
I-294 Dist Ctr		3	(d)			7,922			33,730			15				7,922			33,745			41,667			(1,929)			2012, 2014
I-55 Distribution Center		2	(d)			5,383			25,504			35,513				11,786			54,614			66,400			(14,082)			2007
I-80 Morris		1				6,349			27,134			-				6,349			27,134			33,483			(213)			2014
Itasca Distribution Center		2	(d)			1,522			7,119			1,562				1,522			8,681			10,203			(1,968)			1996, 2014
Itasca Industrial Portfolio		3				3,053			5,879			245				3,053			6,124			9,177			(938)			2011
Kehoe Industrial		1				1,394			3,247			446				1,394			3,693			5,087			(459)			2011
Melrose Park Distribution Ctr.		1				2,657			9,292			283				2,657			9,575			12,232			(1,584)			2011
Minooka Distribution Center		3	(d)			18,420			68,912			17,991				19,404			85,919			105,323			(16,871)			2005, 2008, 2014
Mitchell Distribution Center		1				1,236			7,004			3,748				1,236			10,752			11,988			(6,970)			1996
NDP - Chicago		1				461			1,362			27				461			1,389			1,850			(183)			2011
Nicholas Logistics Center		1				2,354			10,799			44				2,354			10,843			13,197			(1,744)			2011
Northbrook Distribution Center		1				2,056			8,227			1,981				2,056			10,208			12,264			(2,340)			2007
Northlake Distribution Center		1				372			2,105			800				372			2,905			3,277			(2,005)			1996
OHare Industrial Portfolio		6				4,126			10,096			137				4,126			10,233			14,359			(1,766)			2011
Pleasant Prairie Distribution Center		1				1,314			7,450			2,733				1,315			10,182			11,497			(6,008)			1999
Poplar Gateway Truck Terminal		1				2,321			4,699			519				2,321			5,218			7,539			(725)			2011
Port OHare		2				4,819			5,547			256				4,819			5,803			10,622			(971)			2011
Remington Lakes Dist		1				2,382			11,657			606				2,382			12,263			14,645			(1,380)			2011
Rochelle Distribution Center		1				4,457			20,100			11,131				5,254			30,434			35,688			(4,789)			2008
Romeoville Distribution Center		5	(d)			23,325			94,197			10,129				23,325			104,326			127,651			(31,396)			1999, 2005
S.C. Johnson & Son		1				2,267			15,911			1,552				3,152			16,578			19,730			(3,156)			2008
Sivert Distribution		1				1,497			1,470			8				1,497			1,478			2,975			(236)			2011
Touhy Cargo Terminal		1				2,697			8,909			-				2,697			8,909			11,606			(970)			2011
Waukegan Distribution Center		2				4,368			17,632			1,075				4,368			18,707			23,075			(5,232)			2007
West Chicago Distribution Center		1				3,125			12,499			3,299				3,125			15,798			18,923			(4,622)			2005
Windsor Court		1				635			3,493			184				635			3,677			4,312			(555)			2011
Wood Dale Industrial SG		5				4,343			10,174			717				4,343			10,891			15,234			(1,548)			2011
Woodale Distribution Center		1				263			1,490			589				263			2,079			2,342			(1,313)			1997
Woodridge Distribution Center		14	(d)			46,575			197,289			21,583				49,942			215,505			265,447			(65,513)			2005, 2007
Yohan Industrial		3				4,219			12,306			1,157				4,219			13,463			17,682			(1,768)			2011

Chicago, Illinois		161				302,344			1,101,341			224,297				315,104			1,312,878			1,627,982			(345,376)

Cincinnati, Ohio
Airpark Distribution Center		4	(d)			5,851			22,543			14,311				6,831			35,874			42,705			(7,717)			1996, 2012, 2014
DAY Cargo Center		5				-			4,749			531				-			5,280			5,280			(1,480)			2011
Fairfield Comm Ctr		1	(d)			2,526			10,864			29				2,526			10,893			13,419			(86)			2014
Monroe Park		1	(d)			7,222			30,988			301				7,222			31,289			38,511			(244)			2014
Mosteller Dist Ctr		1	(d)			921			4,192			28				921			4,220			5,141			(40)			2014
Park I-275		4	(d)			15,939			63,846			3,153				15,939			66,999			82,938			(4,261)			2008, 2012, 2014
Sharonville Distribution Center		2	(d)			1,202			-			15,047				2,424			13,825			16,249			(6,391)			1997
West Chester Comm Park I		5	(d)			9,466			39,950			2,356				9,466			42,306			51,772			(1,193)			2012, 2014

Cincinnati, Ohio		23				43,127			177,132			35,756				45,329			210,686			256,015			(21,412)

Columbus, Ohio
Alum Creek Dist Ctr		1				917			4,584			277				917			4,861			5,778			(659)			2012
Brookham Distribution Center		2				5,964			23,858			4,946				5,965			28,803			34,768			(10,113)			2005
Canal Pointe Distribution Center		1				1,237			7,013			1,728				1,280			8,698			9,978			(4,572)			1999
Capital Park South Distribution Center		8	(d)			10,077			40,234			29,285				10,470			69,126			79,596			(18,495)			1996, 2012, 2014
Columbus West Ind Ctr		1	(d)			427			2,600			-				427			2,600			3,027			(29)			2014
Corporate Park West		2	(d)			994			6,150			1,409				994			7,559			8,553			(2,494)			1996, 2014
Crosswinds Dist Ctr		1	(d)			3,058			19,240			-				3,058			19,240			22,298			(162)			2014
Etna Distribution Center		4	(d)			10,789			35,577			42,552				10,789			78,129			88,918			(5,941)			2007, 2013, 2014
International Street Comm Ctr		2				1,503			6,356			383				1,503			6,739			8,242			(735)			2012
Lockbourne Dist Ctr		1				540			3,030			352				540			3,382			3,922			(575)			2012
South Park Distribution Center		2	(d)			3,343			15,182			3,370				3,343			18,552			21,895			(7,766)			1999, 2005
Westpointe Distribution Center		2				1,446			7,601			1,298				1,446			8,899			10,345			(3,474)			2007

Columbus, Ohio		27				40,295			171,425			85,600				40,732			256,588			297,320			(55,015)

Dallas/Fort Worth, Texas
Arlington Corp Ctr		3	(d)			6,509			28,032			125				6,509			28,157			34,666			(1,268)			2012, 2014
Dallas Corporate Center		11	(d)			6,449			5,441			34,632				6,645			39,877			46,522			(18,407)			1996, 1997, 1998, 1999, 2012
Dallas Industrial		12				7,180			26,514			2,682				7,180			29,196			36,376			(4,290)			2011
DFW Cargo Center 1		1				-			35,117			973				-			36,090			36,090			(5,105)			2011
DFW Cargo Center 2		1				-			27,916			200				-			28,116			28,116			(3,849)			2011
DFW Cargo Center East		3				-			19,730			333				-			20,063			20,063			(4,469)			2011
Flower Mound Distribution Center		1	(d)			5,157			20,991			2,470				5,157			23,461			28,618			(6,250)			2007
Freeport Corp Ctr		5	(d)			15,415			65,273			702				15,415			65,975			81,390			(4,424)			2012, 2014
Freeport Distribution Center		4				1,393			5,549			5,947				1,440			11,449			12,889			(6,427)			1996, 1997, 1998
Great Southwest Corp Ctr		3				4,476			19,302			210				4,476			19,512			23,988			(153)			2014
Great Southwest Distribution Center		24	(d)			38,395			160,253			25,811				38,395			186,064			224,459			(58,819)			1995, 1996, 1997, 1999, 2000, 2001, 2002, 2005, 2012, 2014
Greater Dallas Industrial Port		3				3,525			16,375			967				3,525			17,342			20,867			(2,481)			2011
Lancaster Distribution Center		5	(d)			20,635			14,362			93,709				19,969			108,737			128,706			(9,024)			2007, 2008, 2013, 2014
Lonestar Portfolio		3				4,736			13,035			2,835				4,736			15,870			20,606			(2,374)			2011
Mesquite Dist Ctr		2	(d)			8,355			35,440			104				8,355			35,544			43,899			(1,781)			2012, 2014
Mesquite Dist III		1				1,691			-			11,894				1,691			11,894			13,585			(564)			2013
Northgate Distribution Center		10	(d)			13,001			62,680			6,772				13,488			68,965			82,453			(18,380)			1999, 2005, 2008, 2012, 2014
Royal Distribution Center		1				811			4,598			2,235				811			6,833			7,644			(2,725)			2001
Stemmons Distribution Center		1				272			1,544			962				272			2,506			2,778			(1,667)			1995
Stemmons Industrial Center		8				1,653			10,526			6,198				1,653			16,724			18,377			(11,143)			1994, 1995, 1996, 1999
Trinity Mills Distribution Center		1	(d)			735			3,774			1,020				735			4,794			5,529			(2,535)			1999
Valwood Business Center		5	(d)			4,679			19,674			1,146				4,679			20,820			25,499			(4,485)			2001, 2006, 2014
Valwood Distribution Center		5	(d)			4,742			21,498			1,289				4,742			22,787			27,529			(3,179)			1999, 2014
Valwood Industrial		2				1,802			9,658			575				1,802			10,233			12,035			(1,620)			2011

Dallas/Fort Worth, Texas		115				151,611			627,282			203,791				151,675			831,009			982,684			(175,419)

Denver, Colorado
Denver Business Center		3	(d)			3,142			13,396			775				3,142			14,171			17,313			(1,312)			2012
Havana Dist Ctr		1	(d)			1,421			5,958			70				1,421			6,028			7,449			(65)			2014
Pagosa Distribution Center		1	(d)			398			2,322			1,675				398			3,997			4,395			(2,849)			1993
Peoria Dist Ctr		2	(d)			4,129			17,465			14				4,129			17,479			21,608			(138)			2014
Stapleton Business Center		12	(d)			34,634			139,257			9,384				34,635			148,640			183,275			(47,204)			2005
Upland Distribution Center		6	(d)			4,064			19,844			5,335				4,077			25,166			29,243			(5,414)			1994, 1995, 2014
Upland Distribution Center II		2	(d)			1,396			5,603			2,136				1,409			7,726			9,135			(2,756)			1993, 2014

Denver, Colorado		27				49,184			203,845			19,389				49,211			223,207			272,418			(59,738)

El Paso, Texas
Vista Corporate Center		1				649			6,220			-				649			6,220			6,869			(48)			2014
Vista Del Sol Ind Ctr III		1				2,040			8,840			85				2,040			8,925			10,965			(739)			2012
Vista Del Sol Industrial Center II		2				366			-			7,829				796			7,399			8,195			(3,931)			1997, 1998

El Paso, Texas		4				3,055			15,060			7,914				3,485			22,544			26,029			(4,718)

Houston, Texas
Blalock Distribution Center		3	(d)			5,032			21,983			3,178				5,031			25,162			30,193			(4,540)			2002, 2012
Crosstimbers Distribution Center		1				359			2,035			1,284				359			3,319			3,678			(2,350)			1994
IAH Cargo Center 1		1				-			13,267			252				-			13,519			13,519			(904)			2012
Jersey Village Corp Ctr		4	(d)			17,971			74,804			309				17,971			75,113			93,084			(4,553)			2012, 2014
Kempwood Business Center		4				1,746			9,894			3,504				1,746			13,398			15,144			(6,763)			2001
Northpark Distribution Center		10	(d)			13,003			37,428			23,729				13,003			61,157			74,160			(5,023)			2006, 2008, 2012, 2013, 2014
Perimeter Distribution Center		2				676			4,604			1,004				676			5,608			6,284			(2,878)			1999
Pine Forest Business Center		11	(d)			6,042			28,833			8,637				6,042			37,470			43,512			(15,103)			1993, 1995, 2014
Pine North Distribution Center		2				847			4,800			1,203				847			6,003			6,850			(3,366)			1999
Pinemont Distribution Center		2				642			3,636			1,000				642			4,636			5,278			(2,601)			1999
Post Oak Business Center		11				2,334			11,655			9,663				2,334			21,318			23,652			(14,285)			1993, 1994, 1996
Post Oak Distribution Center		5				1,522			8,758			6,107				1,522			14,865			16,387			(10,719)			1993, 1994
South Loop Distribution Center		2				418			1,943			2,213				418			4,156			4,574			(2,699)			1994
Southland Distribution Center		2				2,505			12,437			2,000				2,505			14,437			16,942			(4,414)			2002, 2012
Sugarland Corp Ctr		2	(d)			3,506			14,856			-				3,506			14,856			18,362			(115)			2014
West by Northwest Industrial Center		9	(d)			11,316			47,649			3,713				11,456			51,222			62,678			(5,342)			1993, 1994, 2012, 2014
White Street Distribution Center		1				469			2,656			2,420				469			5,076			5,545			(3,308)			1995
Wingfoot Dist Ctr		2				1,976			8,606			3,436				1,976			12,042			14,018			(1,226)			2012, 2013
World Houston Dist Ctr		1				1,529			6,326			42				1,529			6,368			7,897			(486)			2012

Houston, Texas		75				71,893			316,170			73,694				72,032			389,725			461,757			(90,675)

Indianapolis, Indiana
Airport Bus Ctr		2	(d)			1,667			7,244			6				1,667			7,250			8,917			(58)			2014
Airtech Park		1	(d)			7,305			31,388			1				7,305			31,389			38,694			(250)			2014
Eastside Distribution Center		1				228			1,187			2,068				299			3,184			3,483			(1,807)			1995
North by Northeast Corporate Center		1				1,058			-			9,157				1,059			9,156			10,215			(4,848)			1995
North Plainfield Park Dist Ctr		1	(d)			8,562			36,687			-				8,562			36,687			45,249			(289)			2014
Park 100 Industrial Center		17	(d)			10,410			43,048			21,491				10,410			64,539			74,949			(21,704)			1995, 2012
Park 267		1				3,705			15,695			-				3,705			15,695			19,400			(122)			2014
Shadeland Industrial Center		3				428			2,431			3,150				429			5,580			6,009			(3,782)			1995

Indianapolis, Indiana		27				33,363			137,680			35,873				33,436			173,480			206,916			(32,860)

Jacksonville, Florida
JAX Cargo Center		1				-			2,892			176				-			3,068			3,068			(894)			2011

Jacksonville, Florida		1				-			2,892			176				-			3,068			3,068			(894)

Kansas City, Kansas
MCI Cargo Center 1		1				-			2,781			11				-			2,792			2,792			(1,297)			2011
MCI Cargo Center 2		1				-			11,630			-				-			11,630			11,630			(2,557)			2011

Kansas City, Kansas		2				-			14,411			11				-			14,422			14,422			(3,854)

Las Vegas, Nevada
Black Mountain Distribution Center		2				1,108			-			8,022				1,206			7,924			9,130			(3,972)			1997
Cameron Business Center		1				1,634			9,255			1,580				1,634			10,835			12,469			(5,332)			1999
Las Vegas Corporate Center		3	(d)			7,800			32,899			-				7,800			32,899			40,699			(251)			2014
Sunrise Ind Park		9				21,369			92,503			2,578				21,369			95,081			116,450			(5,132)			2011, 2013, 2014
West One Business Center		4				2,468			13,985			5,261				2,468			19,246			21,714			(11,475)			1996

Las Vegas, Nevada		19				34,379			148,642			17,441				34,477			165,985			200,462			(26,162)

Louisville, Kentucky
Cedar Grove Distribution Center		3					9,611			45,964				3,582			9,610			49,547			59,157				(10,348)			2005, 2008, 2012
Commerce Crossings Distribution Center		1					1,912			7,649				186			1,912			7,835			9,747				(2,454)			2005
I-65 Meyer Dist. Center		2		(d	)		7,770			15,282				24,535			8,077			39,510			47,587				(7,640)			2006, 2012
New Cut Road Dist Ctr		1					2,711			11,694				621			2,711			12,315			15,026				(1,378)			2012
Riverport Distribution Center		1					1,515			8,585				2,824			1,515			11,409			12,924				(6,894)			1999

Louisville, Kentucky		8					23,519			89,174				31,748			23,825			120,616			144,441				(28,714)

Memphis, Tennessee
Delp Distribution Center		3					1,068			10,546				583			1,068			11,129			12,197				(7,304)			1995
DeSoto Distribution Center		2		(d	)		5,769			4,359				27,079			5,769			31,438			37,207				(5,904)			2007, 2014
Memphis Distribution Center		4					9,506			42,731				1,365			9,390			44,212			53,602				(6,307)			2002, 2012
Memphis Ind Park		2					3,252			14,448				190			3,252			14,638			17,890				(1,694)			2012
Olive Branch Distribution Center		1		(d	)		6,719			31,134				328			6,719			31,462			38,181				(3,856)			2012
Stateline Park		1					3,943			17,714				19			3,943			17,733			21,676				(150)			2014
Willow Lake Distribution Center		1					613			3,474				(25)			613			3,449			4,062				(2,068)			1999

Memphis, Tennessee		14					30,870			124,406				29,539			30,754			154,061			184,815				(27,283)

Nashville, Tennessee
CentrePointe Distribution Center		2		(d	)		3,760			15,042				72			3,760			15,114			18,874				(525)			2013
Elam Farms Park		1					2,097			8,386				1,834			2,097			10,220			12,317				(585)			2013
I-40 Industrial Center		4					3,075			15,333				3,713			3,075			19,046			22,121				(7,202)			1995, 1996, 1999, 2012
Interchange City Distribution Center		11		(d	)		11,460			51,905				1,640			11,460			53,545			65,005				(2,203)			1999, 2012, 2014
Southpark Distribution Center		4		(d	)		11,834			47,336				626			11,834			47,962			59,796				(1,654)			2013

Nashville, Tennessee		22					32,226			138,002				7,885			32,226			145,887			178,113				(12,169)

New Jersey/New York
Brunswick Distribution Center		2					870			4,928				2,855			870			7,783			8,653				(5,055)			1997
CenterPoint Dist Ctr		1					2,839			12,490				1,753			2,839			14,243			17,082				(1,684)			2012
Chester Distribution Center		1					548			5,319				300			548			5,619			6,167				(4,169)			2002
Clifton Dist Ctr		1					8,064			12,096				1,322			8,064			13,418			21,482				(2,031)			2010
Cranbury Bus Park		8		(d	)		43,056			93,306				2,013			43,056			95,319			138,375				(5,391)			2012, 2014
Dellamor		7					6,710			35,478				2,029			6,710			37,507			44,217				(5,876)			2011
Docks Corner SG (Phase II)		1					16,232			19,264				5,677			16,232			24,941			41,173				(5,680)			2011
Exit 10 Distribution Center		7		(d	)		24,152			130,270				7,881			24,152			138,151			162,303				(42,058)			2005, 2010
Exit 8A Distribution Center		2		(d	)		21,164			87,001				563			21,164			87,564			108,728				(14,166)			2005, 2014
Franklin Comm Ctr		1					9,304			23,768				81			9,304			23,849			33,153				(2,641)			2011
Highway 17 55 Madis		1					2,937			13,477				1,057			2,937			14,534			17,471				(2,114)			2011
JFK Cargo Center 75_77		2					-			35,916				3,031			-			38,947			38,947				(15,166)			2011
Kilmer Distribution Center		4		(d	)		2,526			14,313				4,206			2,526			18,519			21,045				(11,514)			1996
Liberty Log Ctr		1					3,273			24,029				82			3,273			24,111			27,384				(2,429)			2011
Linden Industrial		1					1,321			7,523				517			1,321			8,040			9,361				(1,077)			2011
Mahwah Corporate Center		4					12,695			27,342				894			12,695			28,236			40,931				(3,813)			2011
Meadow Lane		1					1,036			6,388				2			1,036			6,390			7,426				(977)			2011
Meadowland Distribution Center		4		(d	)		10,271			57,480				4,923			10,271			62,403			72,674				(19,387)			2005
Meadowland Industrial Center		7		(d	)		4,190			13,469				17,338			4,190			30,807			34,997				(19,933)			1996, 1998
Meadowlands ALFII		3					3,972			18,895				3,042			3,972			21,937			25,909				(2,768)			2011
Meadowlands Park		8					6,898			41,471				1,790			6,898			43,261			50,159				(6,510)			2011
Mooncreek Distribution Center		1					3,319			13,422				15			3,319			13,437			16,756				(2,227)			2011
Murray Hill Parkway		2					2,907			12,040				225			2,907			12,265			15,172				(1,686)			2011
National Dist Ctr		2		(d	)		2,417			4,244				128			2,417			4,372			6,789				(58)			2014
Newark Airport I and II		2					2,757			8,749				368			2,757			9,117			11,874				(1,154)			2011
Orchard Hill		1					678			3,756				20			678			3,776			4,454				(616)			2011
Pennsauken Distribution Center		2					192			959				509			203			1,457			1,660				(827)			1999
Porete Avenue Warehouse		1					5,386			21,869				435			5,386			22,304			27,690				(2,645)			2011
Port Reading Business Park		2		(d	)		28,374			39,914				24,819			28,374			64,733			93,107				(8,306)			2005, 2014
Ports Jersey City Distribution Center		1					34,133			-				60,354			34,133			60,354			94,487				(663)			2014
Portview Commerce Center		3		(d	)		9,577			21,581				17,790			9,797			39,151			48,948				(3,267)			2011, 2012
Rancocas Dist Ctr		1					4,103			17,291				235			4,103			17,526			21,629				(1,832)			2012
Secaucus Dist Ctr		2		(d	)		9,603			-				26,882			9,603			26,882			36,485				(1,384)			2012
Skyland Crossdock		1					-			9,831				1,293			-			11,124			11,124				(1,825)			2011
South Jersey Distribution Center		1					6,912			17,437				181			6,912			17,618			24,530				(922)			2013
Teterboro Meadowlands 15		1					5,837			23,214				-			5,837			23,214			29,051				(3,067)			2011
Two South Middlesex		1					4,389			8,410				441			4,389			8,851			13,240				(1,494)			2011

New Jersey/New York		91					302,642			886,940				195,051			302,873			1,081,760			1,384,633				(206,412)

Norfolk, Virginia
Chesapeake Dist Ctr		1					2,335			9,665				-			2,335			9,665			12,000				(72)			2014

Norfolk, Virginia		1					2,335			9,665				-			2,335			9,665			12,000				(72)

Orlando, Florida
Beltway Commerce Center		3					17,082			25,526				8,595			17,082			34,121			51,203				(4,497)			2008
Chancellor Distribution Center		1					380			2,157				2,566			380			4,723			5,103				(2,933)			1994
Chancellor Square		3					2,087			9,708				2,150			2,087			11,858			13,945				(1,615)			2011
Consulate Distribution Center		5		(d	)		6,105			31,961				2,111			6,105			34,072			40,177				(13,678)			1999, 2014
Davenport Dist Ctr		1					934			3,991				96			934			4,087			5,021				(439)			2012
Orlando Central Park		1					1,398			5,977				400			1,398			6,377			7,775				(765)			2012
Orlando Corp Ctr		6		(d	)		8,061			34,860				251			8,061			35,111			43,172				(279)			2014
Presidents Drive		6					6,845			31,180				3,937			6,845			35,117			41,962				(5,198)			2011
Sand Lake Service Center		6					3,704			19,546				3,169			3,704			22,715			26,419				(3,410)			2011

Orlando, Florida		32					46,596			164,906				23,275			46,596			188,181			234,777				(32,814)

Phoenix, Arizona
24th Street Industrial Center		2					503			2,852				1,909			561			4,703			5,264				(3,458	)		1994
Alameda Distribution Center		2					3,872			14,358				2,474			3,872			16,832			20,704				(5,566	)		2005
Brookridge Dist Ctr		1		(d	)		3,897			16,852				7			3,897			16,859			20,756				(135	)		2014
Hohokam 10 Business Center		1					1,317			7,468				1,306			1,318			8,773			10,091				(4,587	)		1999
Kyrene Commons Distribution Center		3					1,093			5,475				2,500			1,093			7,975			9,068				(4,895	)		1992, 1998, 1999
Papago Distribution Center		3					4,828			20,017				4,919			4,829			24,935			29,764				(9,573	)		1994, 2005
Phoenix Distribution Center		1					1,441			5,578				216			1,441			5,794			7,235				(501	)		2012
University Dr Distribution Center		1					683			2,735				454			683			3,189			3,872				(1,009	)		2005
Watkins Street Distribution Center		1					242			1,375				596			243			1,970			2,213				(1,340	)		1995
Wilson Drive Distribution Center		1					1,273			5,093				926			1,273			6,019			7,292				(1,951	)		2005

Phoenix, Arizona		16					19,149			81,803				15,307			19,210			97,049			116,259				(33,015	)

Portland, Oregon
Clackamas Dist Ctr		5		(d	)		8,828			29,081				80			8,828			29,161			37,989				(841	)		2012, 2014
PDX Cargo Center Airtrans		2					-			13,697				211			-			13,908			13,908				(2,725	)		2011
PDX Corporate Center East		4		(d	)		7,126			22,413				47			7,126			22,460			29,586				(171	)		2014
PDX Corporate Center North Phase II		4		(d	)(e)		10,293			26,183				1,835			10,293			28,018			38,311				(2,290	)		2008, 2014
Southshore Corporate Center		2		(d	)(e)		7,059			24,799				(251	)		7,117			24,490			31,607				(3,934	)		2006, 2014

Portland, Oregon		17					33,306			116,173				1,922			33,364			118,037			151,401				(9,961	)

Reno, Nevada
Damonte Ranch Dist Ctr		3		(d	)		8,764			37,135				877			8,764			38,012			46,776				(3,290	)		2012, 2014
Golden Valley Distribution Center		1					940			13,686				2,223			2,415			14,434			16,849				(4,570	)		2005
Meredith Kleppe Business Center		5		(d	)		2,988			11,271				3,674			2,988			14,945			17,933				(3,274	)		1993, 2014
Packer Way Distribution Center		2					506			2,879				1,921			506			4,800			5,306				(3,480	)		1993
RNO Cargo Center 10_11		2					-			4,265				306			-			4,571			4,571				(1,103	)		2011
Tahoe-Reno Industrial Center		1					3,281			-				23,844			3,281			23,844			27,125				(4,971	)		2007
Vista Industrial Park		6		(d	)		5,923			26,807				10,192			5,923			36,999			42,922				(17,670	)		1994, 2001

Reno, Nevada		20					22,402			96,043				43,037			23,877			137,605			161,482				(38,358	)

Salt Lake City, Utah
Clearfield Ind Ctr		1					3,485			15,581				-			3,485			15,581			19,066				(184	)		2014
Crossroads Corp Ctr		2		(d	)		4,007			16,855				106			4,005			16,963			20,968				(794	)		2012, 2014

Salt Lake City, Utah		3					7,492			32,436				106			7,490			32,544			40,034				(978	)

San Antonio, Texas
Coliseum Distribution Center		2		(d	)		1,607			6,968				-			1,607			6,968			8,575				(56	)		2014
Director Drive Dist Ctr		2					1,271			5,455				220			1,271			5,675			6,946				(729	)		2012
Downtown Dist Ctr		1					579			2,539				-			579			2,539			3,118				(21	)		2014
Eisenhauer Distribution Center		5		(d	)		5,042			21,684				388			5,042			22,072			27,114				(1,840	)		2012, 2014
Interchange East Dist Ctr		1					1,496			6,535				234			1,496			6,769			8,265				(1,098	)		2012
Landmark One Dist Ctr		1		(d	)		857			3,699				-			857			3,699			4,556				(29	)		2014
Macro Distribution Center		4		(d	)		2,535			12,647				3,900			2,535			16,547			19,082				(4,757	)		2002, 2014
Perrin Creek Corporate Center		10		(d	)		9,770			41,337				177			9,770			41,514			51,284				(2,503	)		2012, 2014
Rittiman East Industrial Park		2					4,848			19,223				2,804			4,848			22,027			26,875				(6,192	)		2006
Rittiman West Industrial Park		2					1,230			4,950				1,159			1,230			6,109			7,339				(1,949	)		2006
San Antonio Distribution Center I		6					1,203			4,648				7,363			1,203			12,011			13,214				(8,928	)		1993
San Antonio Distribution Center II		3					885			-				7,588			885			7,588			8,473				(4,297	)		1994
San Antonio Distribution Center III		6		(d	)		5,079			23,372				956			5,083			24,324			29,407				(2,976	)		1996, 2012, 2014
Tri-County Distribution Center		4		(d	)		6,888			28,693				651			6,889			29,343			36,232				(3,467	)		2007, 2014
Valley Industrial Center		1					363			-				4,872			363			4,872			5,235				(2,504	)		1997

San Antonio, Texas		50					43,653			181,750				30,312			43,658			212,057			255,715				(41,346	)

San Francisco Bay Area, California
Acer Distribution Center		1		(d	)		3,368			15,139				209			3,368			15,348			18,716				(2,423	)		2011
Alvarado Business Center		10		(d	)		20,739			62,595				6,332			20,739			68,927			89,666				(22,002	)		2005
Bayshore Distribution Center		1					6,450			15,049				2,696			6,450			17,745			24,195				(2,595	)		2011
Bayside Corporate Center		7					4,365			-				20,611			4,365			20,611			24,976				(13,119	)		1995, 1996
Bayside Plaza I		12					5,212			18,008				8,311			5,216			26,315			31,531				(17,701	)		1993
Bayside Plaza II		2					634			-				3,576			634			3,576			4,210				(2,427	)		1994
Brennan Distribution		1					1,912			7,553				63			1,912			7,616			9,528				(1,181	)		2011
Component Drive Ind Port		3					2,829			13,532				677			2,829			14,209			17,038				(2,183	)		2011
Cypress		1					1,065			5,103				246			1,065			5,349			6,414				(794	)		2011
Dado Distribution		1					2,194			11,079				267			2,194			11,346			13,540				(1,863	)		2011
Doolittle Distribution Center		1					2,843			18,849				848			2,843			19,697			22,540				(2,640	)		2011
Dowe Industrial Center		2		(d	)		5,884			20,400				809			5,884			21,209			27,093				(3,357	)		2011
Dublin Ind Portfolio		1					3,241			15,951				993			3,241			16,944			20,185				(2,179	)		2011
East Bay Doolittle		1					4,015			15,988				1,296			4,015			17,284			21,299				(2,866	)		2011
East Grand Airfreight		2					3,977			11,730				464			3,977			12,194			16,171				(1,523	)		2011
Edgewater Industrial Center		1					6,630			31,153				1,968			6,630			33,121			39,751				(5,206	)		2011
Eigenbrodt Way Distribution Center		1					393			2,228				694			393			2,922			3,315				(2,038	)		1993
Gateway Corporate Center		10					6,736			24,747				10,340			6,744			35,079			41,823				(23,670	)		1993
Hayward Commerce Center		4					1,933			10,955				3,550			1,933			14,505			16,438				(10,191	)		1993
Hayward Commerce Park		2		(d	)		7,131			11,144				325			7,131			11,469			18,600				(121	)		2014
Hayward Distribution Center		2					831			5,510				3,213			1,038			8,516			9,554				(6,423	)		1993
Hayward Ind - Hathaway		2					6,177			8,271				25			6,177			8,296			14,473				(3,244	)		2011
Hayward Industrial Center		13					4,481			25,393				9,298			4,481			34,691			39,172				(24,063	)		1993
Junction Industrial Park		4					7,658			39,106				1,369			7,658			40,475			48,133				(5,202	)		2011
Lakeside BC		1					3,969			11,181				871			3,969			12,052			16,021				(1,281	)		2011
Laurelwood Drive		2					3,941			13,161				318			3,941			13,479			17,420				(1,708	)		2011
Lawrence SSF		1					2,189			7,498				149			2,189			7,647			9,836				(1,128	)		2011
Livermore Distribution Center		4					8,992			26,976				2,377			8,992			29,353			38,345				(9,724	)		2005
Martin-Scott Ind Port		2					3,546			9,717				328			3,546			10,045			13,591				(1,554	)		2011
Oakland Industrial Center		3		(d	)		8,234			24,704				2,487			8,235			27,190			35,425				(8,482	)		2005
Overlook Distribution Center		1					1,573			8,915				2,585			1,573			11,500			13,073				(4,897	)		1999
Pacific Business Center		2					6,075			26,260				3,909			6,075			30,169			36,244				(4,122	)		2011
Pacific Commons Industrial Center		5		(d	)(e)		25,784			77,594				2,190			25,805			79,763			105,568				(25,247	)		2005
Pacific Industrial Center		6		(d	)		21,675			65,083				4,067			21,675			69,150			90,825				(21,895	)		2005
San Leandro Distribution Center		3					1,387			7,862				2,860			1,387			10,722			12,109				(7,618	)		1993
Shoreline Business Center		8					4,328			16,101				6,520			4,328			22,621			26,949				(14,204	)		1993
Silicon Valley R and D		2					2,567			10,313				340			2,567			10,653			13,220				(1,415	)		2011
South Bay Brokaw		3					4,014			23,296				822			4,014			24,118			28,132				(3,174	)		2011
South Bay Junction		2					3,662			21,120				1,402			3,662			22,522			26,184				(2,859	)		2011
South Bay Lundy		2					6,500			33,642				2,496			6,500			36,138			42,638				(4,802	)		2011
Spinnaker Business Center		12					7,043			25,220				11,321			7,043			36,541			43,584				(23,885	)		1993
Thornton Business Center		4					2,047			11,706				4,285			2,066			15,972			18,038				(10,372	)		1993
TriPoint Bus Park		4					9,057			23,727				4,071			9,057			27,798			36,855				(3,275	)		2011
Utah Airfreight		1					10,657			42,842				932			10,657			43,774			54,431				(5,746	)		2011
Wiegman Road		1					2,285			12,531				401			2,285			12,932			15,217				(1,439	)		2011
Willow Park Ind - Ph 1		7					6,628			18,118				553			6,628			18,671			25,299				(3,249	)		2011
Willow Park Ind - Ph 2 and 3		4					15,086			27,044				1,616			15,086			28,660			43,746				(4,559	)		2011
Willow Park Ind - Ph 4 5 7 8		8					12,131			65,486				2,694			12,131			68,180			80,311				(9,436	)		2011
Willow Park Ind - Ph 6		2					3,696			20,929				2,196			3,696			23,125			26,821				(3,626	)		2011
Yosemite Drive		1					2,439			12,068				288			2,439			12,356			14,795				(1,567	)		2011
Zanker-Charcot Industrial		5					4,867			28,750				1,362			4,867			30,112			34,979				(3,832	)		2011

San Francisco Bay Area, California		181					295,070			1,061,327				141,620			295,330			1,202,687			1,498,017				(344,107	)

Savannah, Georgia
Morgan Bus Ctr		1					2,161			14,680				1,234			2,161			15,914			18,075				(1,675	)		2011

Savannah, Georgia		1					2,161			14,680				1,234			2,161			15,914			18,075				(1,675	)

Seattle, Washington
East Valley Warehouse		1		(d	)(e)		10,472			57,825				793			10,472			58,618			69,090				(6,704	)		2011
Fife Distribution Center		1					3,245			-				13,366			3,245			13,366			16,611				(401	)		2013
Harvest Business Park		3					3,541			18,827				747			3,541			19,574			23,115				(2,488	)		2011
Kent Centre Corporate Park		4					5,397			21,599				656			5,397			22,255			27,652				(2,856	)		2011
Kingsport Industrial Park		7					16,605			48,942				2,233			16,800			50,980			67,780				(8,620	)		2011
Northwest Distribution Center		3					5,114			24,090				1,747			5,114			25,837			30,951				(3,273	)		2011
ProLogis Park SeaTac		2		(d	)		12,230			14,170				3,453			12,457			17,396			29,853				(3,124	)		2008
Puget Sound Airfreight		1					1,408			4,201				210			1,408			4,411			5,819				(572	)		2011
Renton Northwest Corp. Park		4					5,102			17,946				478			5,102			18,424			23,526				(2,800	)		2011
SEA Cargo Center North		1					-			10,279				40			-			10,319			10,319				(5,674	)		2011
SEA Cargo Center South		1					-			2,745				11			-			2,756			2,756				(2,722	)		2011
Sumner Landing		1		(e	)		10,332			32,545				767			10,332			33,312			43,644				(3,391	)		2011
Van Doren’s Distribution Center		1		(d	)		3,166			7,716				7			3,166			7,723			10,889				(58	)		2014

Seattle, Washington		30					76,612			260,885				24,508			77,034			284,971			362,005				(42,683	)

South Florida
Airport West Distribution Center		2		(d	)		1,253			3,825				4,109			1,974			7,213			9,187				(3,697	)		1995, 1998
Beacon Centre		18					37,998			196,004				8,256			37,998			204,260			242,258				(24,652	)		2011
Beacon Industrial Park		8		(d	)		20,139			68,093				3,405			20,139			71,498			91,637				(8,627	)		2011
Beacon Lakes		2					6,504			-				18,865			6,504			18,865			25,369				(308	)		2012, 2014
Blue Lagoon Business Park		2		(d	)		9,189			29,451				1,336			9,189			30,787			39,976				(4,025	)		2011
CenterPort Distribution Center		5		(d	)		8,802			22,504				3,121			8,922			25,505			34,427				(8,511	)		1999, 2012
Copans Distribution Center		2					504			2,857				1,486			504			4,343			4,847				(2,151	)		1997, 1998
Dolphin Distribution Center		1					2,716			7,364				866			2,716			8,230			10,946				(1,397	)		2011
International Corp Park		2					10,596			15,898				2,211			10,596			18,109			28,705				(2,643	)		2010
Marlin Distribution Center		1					1,844			6,603				361			1,844			6,964			8,808				(1,041	)		2011
Miami Airport Business Center		6					11,173			45,921				2,115			11,173			48,036			59,209				(6,548	)		2011
North Andrews Distribution Center		1					698			3,956				391			698			4,347			5,045				(2,804	)		1994
Pompano Beach Distribution Center		3					11,035			15,136				3,692			11,035			18,828			29,863				(2,772	)		2008
Pompano Center of Commer		5					5,171			13,930				391			5,171			14,321			19,492				(1,689	)		2011
Port Lauderdale Distribution Center		7		(d	)		37,472			69,457				9,239			38,781			77,387			116,168				(5,328	)		1997, 2012, 2014
ProLogis Park I-595		2		(d	)		1,998			11,326				959			1,999			12,284			14,283				(4,932	)		2003
Sawgrass Distribution Center		2					10,016			-				15,142			10,016			15,142			25,158				(1,876	)		2009
Tarpon Distribution Center		1					1,847			6,451				179			1,847			6,630			8,477				(1,153	)		2011

South Florida		70					178,955			518,776				76,124			181,106			592,749			773,855				(84,154	)

Southern California
Anaheim Industrial Center		12					31,086			57,836				2,815			31,086			60,651			91,737				(19,039	)		2005
Anaheim Industrial Property		1					5,096			10,816				71			5,096			10,887			15,983				(1,375	)		2011
Arrow Ind. Park		2					4,840			8,120				866			4,840			8,986			13,826				(1,125	)		2012
Artesia Industrial		19					68,691			145,492				5,223			68,691			150,715			219,406				(21,283	)		2011
Bell Ranch Distribution		4					5,539			23,092				1,657			5,539			24,749			30,288				(3,491	)		2011
Brea Ind Ctr		1					2,488			4,062				287			2,488			4,349			6,837				(471	)		2012
California Commerce Center		5					18,708			35,633				2,465			18,708			38,098			56,806				(3,457	)		2012, 2014
Carson Dist Ctr		1					15,491			-				17,000			15,491			17,000			32,491				(1,330	)		2011
Carson Industrial		12					13,608			32,802				3,166			13,608			35,968			49,576				(5,068	)		2011
Carson Town Center		2					11,781			31,572				698			11,781			32,270			44,051				(3,711	)		2011
Cedarpointe Ind Park		5					7,824			12,476				664			7,824			13,140			20,964				(1,488	)		2012
Chartwell Distribution Center		1					6,417			16,964				801			6,417			17,765			24,182				(2,347	)		2011
Chino Ind Ctr		4					850			1,274				10			850			1,284			2,134				(649	)		2012
Commerce Ind Ctr		1					11,345			17,653				88			11,345			17,741			29,086				(1,833	)		2012
Crossroads Business Park		9		(d	)		36,131			98,797				126,748			89,658			172,018			261,676				(35,650	)		2005, 2010, 2014
Del Amo Industrial Center		1					7,471			17,889				386			7,471			18,275			25,746				(2,734	)		2011
Dominguez North Industrial Center		6		(d	)		20,662			34,382				2,883			20,688			37,239			57,927				(6,222	)		2007, 2012
Eaves Distribution Center		3					13,914			31,041				1,953			13,914			32,994			46,908				(5,156	)		2011
Foothill Bus Ctr		3					5,254			8,096				117			5,254			8,213			13,467				(836	)		2012
Ford Distribution Cntr		7					29,895			81,433				2,875			29,895			84,308			114,203				(13,365	)		2011
Fordyce Distribution Center		1					6,110			19,485				765			6,110			20,250			26,360				(3,379	)		2011
Harris Bus Ctr Alliance II		9					13,134			66,195				1,967			13,134			68,162			81,296				(8,942	)		2011
Haven Distribution Center		4		(d	)		96,975			73,903				7,620			96,975			81,523			178,498				(13,312	)		2008
Industry Distribution Center		8		(d	)(e)		54,170			99,434				4,891			54,170			104,325			158,495				(31,872	)		2005, 2012
Inland Empire Distribution Center		6		(d	)		37,805			66,530				8,469			38,585			74,219			112,804				(21,549	)		2005, 2012
Kaiser Distribution Center		8		(d	)(e)		131,819			242,618				20,367			136,030			258,774			394,804				(80,093	)		2005, 2008
LAX Cargo Center		3					-			19,217				193			-			19,410			19,410				(4,789	)		2011
Los Angeles Industrial Center		2					3,777			7,015				353			3,777			7,368			11,145				(2,425	)		2005
Meridian Park		1					12,931			24,268				142			12,931			24,410			37,341				(5,629	)		2008
Mid Counties Industrial Center		18		(d	)		55,436			96,453				15,386			55,437			111,838			167,275				(35,190	)		2005, 2006, 2010, 2012
Mill Street Dist Ctr		1					1,825			4,572				-			1,825			4,572			6,397				(36	)		2014
Mill Street Spec Dist Ctr		1		(d	)		15,691			38,520				1			15,691			38,521			54,212				(294	)		2014
Milliken Dist Ctr		1					18,831			30,811				219			18,831			31,030			49,861				(3,458	)		2012
NDP—Los Angeles		5					14,855			41,115				2,020			14,855			43,135			57,990				(6,677	)		2011
Normandie Industrial		1					12,297			14,957				726			12,297			15,683			27,980				(2,717	)		2011
North County Dist Ctr		3					49,949			76,943				4,061			49,949			81,004			130,953				(8,910	)		2011, 2012
Ontario Dist Ctr		1					18,823			29,524				482			18,823			30,006			48,829				(3,099	)		2012
Orange Industrial Center		1					4,156			7,836				349			4,157			8,184			12,341				(2,561	)		2005
Pacific Bus Ctr		5					20,810			32,169				1,675			20,810			33,844			54,654				(3,467	)		2012
ProLogis Park Ontario		2		(d	)		25,499			47,366				813			25,499			48,179			73,678				(12,505	)		2007
Rancho Cucamonga Distribution Center		4		(d	)(e)		46,471			86,305				2,091			46,472			88,395			134,867				(27,341	)		2005
Redlands Comm Ctr		1					20,583			32,750				-			20,583			32,750			53,333				(254	)		2014
Redlands Distribution Center		7		(d	)		69,051			99,842				74,367			72,589			170,671			243,260				(18,529	)		2006, 2007, 2012, 2013, 2014
Rialto Dist Ctr		4		(d	)		73,396			204,161				442			73,396			204,603			277,999				(15,058	)		2012, 2014
Riverbluff Distribution Center		1		(d	)		42,964			-				32,928			42,964			32,928			75,892				(6,090	)		2009
Riverside Dist Ctr (LAX)		2					2,178			3,440				150			2,178			3,590			5,768				(375	)		2012
Santa Ana Distribution Center		2					4,318			8,019				759			4,318			8,778			13,096				(2,786	)		2005
South Bay Distribution Center		4		(d	)		14,478			27,511				3,489			15,280			30,198			45,478				(10,026	)		2005, 2007
Starboard Distribution Ctr		1					18,763			53,824				119			18,763			53,943			72,706				(6,883	)		2011
Terra Francesco		1					11,196			-				15,591			11,196			15,591			26,787				(117	)		2012
Torrance Dist Ctr		1					25,730			40,414				287			25,730			40,701			66,431				(4,234	)		2012
Transpark Inland Empire Dist Ctr		1		(d	)		28,936			44,721				-			28,936			44,721			73,657				(329	)		2014
Van Nuys Airport Industrial		4					23,455			39,916				2,588			23,455			42,504			65,959				(5,018	)		2011
Vernon Distribution Center		15				25,439			47,250			3,912				25,441			51,160			76,601			(16,728	)		2005
Vernon Industrial		2				3,626			3,319			197				3,626			3,516			7,142			(2,084	)		2011
Vista Distribution Center		1				4,150			6,225			3,415				4,150			9,640			13,790			(1,569	)		2012
Vista Rialto Distrib Ctr		1				5,885			25,991			242				5,885			26,233			32,118			(3,188	)		2011
Walnut Drive		1				2,665			7,397			218				2,665			7,615			10,280			(960	)		2011
Watson Industrial Center AFdII		1				6,944			11,193			65				6,944			11,258			18,202			(1,478	)		2011
Wilmington Avenue Warehouse		2				11,172			34,723			2,389				11,172			37,112			48,284			(4,629	)		2011

Southern California		236				1,353,384			2,485,362			384,521				1,416,273			2,806,994			4,223,267			(509,210	)

St. Louis, Missouri
Earth City Industrial Center		3				807			4,992			2,057				807			7,049			7,856			(3,800	)		1998, 2014
Hazelwood Dist Ctr		2				833			4,721			24				833			4,745			5,578			(49	)		2014
Westport Distribution Center		3				824			3,849			2,403				824			6,252			7,076			(2,316	)		1997, 2014

St. Louis, Missouri		8				2,464			13,562			4,484				2,464			18,046			20,510			(6,165	)

Guadalajara
Parque Opcion		1				730			2,287			1,362				730			3,649			4,379			(504	)		2011

Guadalajara		1				730			2,287			1,362				730			3,649			4,379			(504	)

Mexico City
Puente Grande Distribution Center		1				9,106			-			15,795				9,106			15,795			24,901			(137	)		2014

Mexico City		1				9,106			-			15,795				9,106			15,795			24,901			(137	)

Canada - Toronto
Airport Rd. Dist Ctr		1				26,084			73,382			2,343				27,262			74,547			101,809			(7,860	)		2011
Annagem Dist. Center		1				3,518			12,035			850				3,677			12,726			16,403			(1,394	)		2011
Annagem Distrib Centre II		1				1,981			5,076			873				2,070			5,860			7,930			(708	)		2011
Bolton Distribution Center		1				7,973			-			24,803				8,333			24,443			32,776			(2,890	)		2009
Keele Distribution Center		1				1,239			4,972			529				1,295			5,445			6,740			(823	)		2011
Meadowvale Dist Ctr		1				14,647			-			21,297				15,027			20,917			35,944			(135	)		2014
Millcreek Distribution Ctr		2				8,630			32,829			688				9,020			33,127			42,147			(3,612	)		2011
Milton 401 Bus. Park		1				6,733			22,057			3,087				7,036			24,841			31,877			(2,985	)		2011
Milton 402 Bus Park		2				11,044			37,861			868				11,416			38,357			49,773			(2,412	)		2011, 2014
Milton Crossings Bus Pk		2				19,664			47,864			3,555				20,551			50,532			71,083			(5,415	)		2011
Mississauga Gateway Center		6				54,233			132,288			830				54,509			132,842			187,351			(2,398	)		2008, 2014
Pearson Logist. Ctr		2				12,545			44,969			1,381				13,111			45,784			58,895			(4,815	)		2011

Canada		21				168,291			413,333			61,104				173,307			469,421			642,728			(35,447	)

Subtotal North American Markets:		1,542				3,903,706			11,363,912			2,316,367				4,004,395			13,579,590			17,583,985			(2,631,273	)

European Markets
Austria
Himberg DC		1				3,714			-			5,872				3,724			5,862			9,586			(571	)		2011

Austria		1				3,714			-			5,872				3,724			5,862			9,586			(571	)

Belgium
Boom Distribution Ct		1				13,672			18,478			81				13,672			18,559			32,231			(2,090	)		2011

Belgium		1				13,672			18,478			81				13,672			18,559			32,231			(2,090	)

Czech Republic
Uzice Distribution Center		1				2,701			-			17,441				2,701			17,441			20,142			(3,517	)		2007

Czech Republic		1				2,701			-			17,441				2,701			17,441			20,142			(3,517	)

France
Bonneuil Distribution Center		1				-			-			16,587				-			16,587			16,587			(3,852	)		2012
Isle d’Abeau Distribution Center		1				3,175			14,247			3,428				4,332			16,518			20,850			(2,493	)		2011
LGR Genevill. 1 SAS		1				2,237			2,427			817				2,237			3,244			5,481			(326	)		2011
LGR Genevill. 2 SAS		1				1,720			3,564			41				1,720			3,605			5,325			(349	)		2011
Moissy II Distribution Center		1				5,551			-			7,454				5,501			7,504			13,005			(93	)		2014
Port of Rouen		1				-			15,480			88				-			15,568			15,568			(2,054	)		2011
Vemars Distribution Center		1				8,300			-			12,679				8,300			12,679			20,979			(210	)		2014

France		7				20,983			35,718			41,094				22,090			75,705			97,795			(9,377	)

Germany
Hausbruch Ind Ctr 4-B		1				8,294			5,395			130				8,294			5,525			13,819			(1,571	)		2011
Hausbruch Ind Ctr 5-650		1				2,986			460			244				2,986			704			3,690			(120	)		2011
Huenxe Dist Ctr		1				2,062			-			9,220				1,587			9,695			11,282			(572	)		2012
Kolleda Distribution Center		1				257			3,974			(318	)			257			3,656			3,913			(514	)		2008
Lauenau Dist Ctr		1				2,784			6,197			296				2,784			6,493			9,277			(819	)		2011
Meerane Distribution Center		1				686			5,274			(242	)			686			5,032			5,718			(670	)		2008
Muggensturm		2				3,533			14,328			128				3,533			14,456			17,989			(1,876	)		2011

Germany		8				20,602			35,628			9,458				20,127			45,561			65,688			(6,142	)

Hungary
Budapest-Sziget Dist. Center		2				3,361			8,768			5,588				3,399			14,318			17,717			(1,125	)		2008, 2014

Hungary		2				3,361			8,768			5,588				3,399			14,318			17,717			(1,125	)

Italy
Arena Po Dist Ctr		2				8,275			22,399			103				8,275			22,502			30,777			(3,939	)		2011
Castel San Giovanni Dist Ctr		1				3,439			10,501			146				3,439			10,647			14,086			(1,460	)		2011
Siziano Logis Park		1				10,985			19,914			838				10,985			20,752			31,737			(2,412	)		2011

Italy		4				22,699			52,814			1,087				22,699			53,901			76,600			(7,811	)

Poland
Nadarzyn Distribution Center		1				2,511			-			7,733				2,508			7,736			10,244			(1,138	)		2009
Piotrkow II Distribution Center		1				1,633			-			5,564				1,590			5,607			7,197			(947	)		2009
Sochaczew Distribution Center.		2				133			11,797			1,997				773			13,154			13,927			(2,430	)		2008
Szczecin Distribution Center		1				310			-			4,419				310			4,419			4,729			(32	)		2014
Teresin Dist Ctr		2				3,395			17,739			951				4,024			18,061			22,085			(2,486	)		2011
Wroclaw V DC		3				8,687			-			32,462				8,687			32,462			41,149			(944	)		2013, 2014

Poland		10				16,669			29,536			53,126				17,892			81,439			99,331			(7,977	)

Romania
Bucharest Distribution Center		4				7,007			30,630			11,642				8,758			40,521			49,279			(7,729	)		2007, 2008

Romania		4				7,007			30,630			11,642				8,758			40,521			49,279			(7,729	)

Slovakia
Bratislava Distribution Center		1				2,393			-			10,840				2,393			10,840			13,233			(346	)		2012
Sered Distribution Center		1				2,424			-			13,139				2,424			13,139			15,563			(1,791	)		2009

Slovakia		2				4,817			-			23,979				4,817			23,979			28,796			(2,137	)

Spain
Barajas MAD Logistics		4				-			39,276			937				-			40,213			40,213			(5,759	)		2011

Spain		4				-			39,276			937				-			40,213			40,213			(5,759	)

Sweden
Orebro Dist Ctr		1				10,064			22,004			2,196				10,064			24,200			34,264			(4,551	)		2011

Sweden		1				10,064			22,004			2,196				10,064			24,200			34,264			(4,551	)

United Kingdom
Midpoint Park		2				31,375			12,061			19,207				31,407			31,236			62,643			(1,972	)		2008, 2013
North Kettering Bus Pk		1				2,518			7,477			7,187				3,759			13,423			17,182			(3,634	)		2007

United Kingdom		3				33,893			19,538			26,394				35,166			44,659			79,825			(5,606	)

Subtotal European Markets:		48				160,182			292,390			198,895				165,109			486,358			651,467			(64,392	)

Asia Markets
China
Dalian Ind. Park DC		1				2,538			14,543			108				2,443			14,746			17,189			(1,468	)		2011
Fengxian Logistics C		3				-			13,773			624				-			14,397			14,397			(3,566	)		2011
Jiaxing Distri Ctr		4				11,454			11,104			14,288				11,103			25,743			36,846			(1,625	)		2011, 2013
Tianjin Bonded LP		2				1,565			9,485			58				1,502			9,606			11,108			(1,090	)		2011

China		10				15,557			48,905			15,078				15,048			64,492			79,540			(7,749	)

Japan
ProLogis Park Aichi Distribution Center		1				18,428			-			74,195				24,691			67,932			92,623			(12,927	)		2007
ProLogis Park Narita III		1				17,145			60,785			9,604				18,394			69,140			87,534			(9,674	)		2008

Japan		2				35,573			60,785			83,799				43,085			137,072			180,157			(22,601	)

Singapore
Airport Logistics Center 3		1				-			25,736			121				-			25,857			25,857			(4,124	)		2011
Changi South Distr Ctr 1		1				-			41,942			113				-			42,055			42,055			(6,144	)		2011
Changi-North DC1		1				-			13,877			1,844				-			15,721			15,721			(2,108	)		2011
Singapore Airport Logist Ctr 2		1				-			37,267			201				-			37,468			37,468			(5,983	)		2011
Tuas Distribution Center		1				-			18,929			273				-			19,202			19,202			(4,461	)		2011

Singapore		5				-			137,751			2,552				-			140,303			140,303			(22,820	)

Subtotal Asian Markets:		17				51,130			247,441			101,429				58,133			341,867			400,000			(53,170	)

Total Industrial Operating Properties:		1,607				4,115,018			11,903,743			2,616,691				4,227,637			14,407,815			18,635,452			(2,748,835	)

Development Portfolio
North American Markets:
United States:
Atlanta, Georgia
Park I-85		1				3,493			-			1,643				3,493			1,643			5,136

Atlanta, Georgia		1				3,493			-			1,643				3,493			1,643			5,136

Boston, Massachusetts
Londonderry		1				10,808			-			22,717				10,808			22,717			33,525

Boston, Massachusetts		1				10,808			-			22,717				10,808			22,717			33,525

Central & Eastern, Pennsylvania
Carlisle Dist Ctr		1				13,931			-			5,963				13,931			5,963			19,894
I-81 Dist Ctr		1				6,416			-			11,128				6,416			11,128			17,544
Lehigh Valley Distribution Center		1				2,897			-			1,213				2,897			1,213			4,110
Central & Eastern, Pennsylvania		3				23,244			-			18,304				23,244			18,304			41,548

Central Valley, CA
Patterson Pass Business Center		1				-			-			12,234				-			12,234			12,234

Central Valley, CA		1				-			-			12,234				-			12,234			12,234

Charlotte, North Carolina
West Pointe Business Center		1				790			-			1,819				790			1,819			2,609

Charlotte, North Carolina		1				790			-			1,819				790			1,819			2,609

Chicago, Illinois
Bolingbrook Distribution Center		1				3,926			-			9,937				3,926			9,937			13,863

Chicago, Illinois		1				3,926			-			9,937				3,926			9,937			13,863

Columbus, Ohio
Etna Distribution Center		1				1,167			-			12,811				1,167			12,811			13,978				2014

Columbus, Ohio		1				1,167			-			12,811				1,167			12,811			13,978

Dallas/Fort Worth, Texas
Dallas Corporate Center North Distribution Center		2				4,430			-			993				4,430			993			5,423
Freeport Corp Ctr		1				458			-			6,628				458			6,628			7,086				2014
Mountain Creek		1				-			-			4,012				-			4,012			4,012

Dallas/Fort Worth, Texas		4				4,888			-			11,633				4,888			11,633			16,521

Denver, Colorado
Stapleton Bus Ctr North		2				7,149			-			30,482				7,149			30,482			37,631				2014

Denver, Colorado		2				7,149			-			30,482				7,149			30,482			37,631

El Paso, Texas
Northwestern Corporate Center		1				768			-			2,203				768			2,203			2,971

El Paso, Texas		1				768			-			2,203				768			2,203			2,971

Houston, Texas
Northpark Distribution Center		2				2,012			-			10,411				2,012			10,411			12,423				2014

Houston, Texas		2				2,012			-			10,411				2,012			10,411			12,423

Las Vegas, Nevada
Las Vegas Corporate Center		1				2,881			-			7,655				2,881			7,655			10,536

Las Vegas, Nevada		1				2,881			-			7,655				2,881			7,655			10,536

Memphis, Tennessee
DeSoto Distribution Center		1				938			-			8,168				938			8,168			9,106				2014

Memphis, Tennessee		1				938			-			8,168				938			8,168			9,106

New Jersey
Port Reading Business Park		4				56,803			-			92,208				56,803			92,208			149,011				2014

New Jersey		4				56,803			-			92,208				56,803			92,208			149,011

Orlando, Florida
Beltway Commerce Center		1				1,485			-			4,814				1,485			4,814			6,299

Orlando, Florida		1				1,485			-			4,814				1,485			4,814			6,299

Portland, Oregon
Southshore Corporate Center		1				1,003			-			9,986				1,003			9,986			10,989

Portland, Oregon		1				1,003			-			9,986				1,003			9,986			10,989

South Florida
Beacon Lakes		2				7,369			-			17,464				7,369			17,464			24,833					2014

South Florida		2				7,369			-			17,464				7,369			17,464			24,833

Southern California
CAT - Kaiser Comm Ctr		1				4,851			-			2,648				4,851			2,648			7,499
International Multifoods		1				4,700			-			9,135				4,700			9,135			13,835
Redlands Distribution Center		1				16,628			-			24,565				16,628			24,565			41,193					2014
Rialto Dist Ctr		1				13,026			-			8,502				13,026			8,502			21,528

Southern California		4				39,205			-			44,850				39,205			44,850			84,055

Mexico
Centro Industrial Center		1				1,252			-			270				1,252			270			1,522
El Puente Industrial Center		1				1,767			-			4,944				1,767			4,944			6,711
Los Altos Ind Park		1				2,586			-			8,421				2,586			8,421			11,007					2014
Monterrey Airport		1				11,917			-			12,850				11,917			12,850			24,767
PDX Corporate Center North/South		1				14,493			-			10,850				14,493			10,850			25,343
Toluca Distribution Center		1				5,336			-			3,492				5,336			3,492			8,828
Tres Rios		2				8,364			-			13,627				8,364			13,627			21,991					2014

Mexico		8				45,715			-			54,454				45,715			54,454			100,169

Canada
Meadowvale Dist Ctr		1				21,456			-			28,624				21,456			28,624			50,080					2014
Milton 402 Bus Park		3				10,311			-			33				10,311			33			10,344
Tapscott Dist Ctr		1				3,110			-			4,227				3,110			4,227			7,337

Canada		5				34,877			-			32,884				34,877			32,884			67,761

Subtotal North American Markets:		45				248,521			-			406,677				248,521			406,677			655,198

European Markets
Czech Republic
Prague Airport Distribution Center		2				5,087			-			8,737				5,087			8,737			13,824
Prague-Jirny Dist. Ctr		2				5,411			-			1,911				5,411			1,911			7,322

Czech Republic		4				10,498			-			10,648				10,498			10,648			21,146

France
LG Roissy Sorbiers SAS		1				5,508			-			13,600				5,508			13,600			19,108
Presles Dist Ctr		1				537			-			8,656				537			8,656			9,193

France		2				6,045			-			22,256				6,045			22,256			28,301

Germany
Peine Dist Ctr		1				3,411			-			1,677				3,411			1,677			5,088

Germany		1				3,411			-			1,677				3,411			1,677			5,088

Netherlands
Tilburg Dist Ctr		1				5,381			-			4,390				5,381			4,390			9,771
Venlo Dist. Center.		1				7,085			-			9,724				7,085			9,724			16,809

Netherlands		2				12,466			-			14,114				12,466			14,114			26,580

Poland
Wroclaw Distribution Center		1				3,937			-			8,290				3,937			8,290			12,227					2014
Wroclaw V DC		1				2,787			-			9,411				2,787			9,411			12,198					2014

Poland		2				6,724			-			17,701				6,724			17,701			24,425

Slovakia
Bratislava Distribution Center		1				1,919			-			8,024				1,919			8,024			9,943

Slovakia		1				1,919			-			8,024				1,919			8,024			9,943

Spain
Puerta de Madrid Distribution Center		1				7,126			-			1,263				7,126			1,263			8,389

Spain		1				7,126			-			1,263				7,126			1,263			8,389

Sweden
Gothenburg Distribution Center		1				3,720			-			11,953				3,720			11,953			15,673					2014
Ljungby Distribution Center		1				647			-			2,437				647			2,437			3,084

Sweden		2				4,367			-			14,390				4,367			14,390			18,757

United Kingdom
Boscombe Road Distribution Center		1				16,206			-			14,850				16,206			14,850			31,056							2014
Dirft Dist Ctr		2				85,368			-			60,515				85,368			60,515			145,883
Grange Park		1				16,797			-			14,451				16,797			14,451			31,248
Heathrow Phase 3 Distribution Center		2				14,174			-			11,409				14,174			11,409			25,583							2014
Littlebrook Dist Ctr		1				12,360			-			14,817				12,360			14,817			27,177
Midpoint Park		2				-			-			12,275				-			12,275			12,275

United Kingdom		9				144,905			-			128,317				144,905			128,317			273,222

Subtotal European Markets:		24				197,461			-			218,390				197,461			218,390			415,851

Asian Markets
Japan
Chiba New Town Distribution Center		1				31,079			-			1,166				31,079			1,166			32,245
Hisayama Dist Ctr		1				5,120			-			18,739				5,120			18,739			23,859
Joso Dist Ctr		1				12,140			-			26,160				12,140			26,160			38,300							2014
Kitamoto Distribution Center		1				18,460			-			55,668				18,460			55,668			74,128							2014
Narashino IV Distribution Center		1				-			-			19,239				-			19,239			19,239
Narita 1		1				9,361			-			20,368				9,361			20,368			29,729
Osaka 5		1				35,475			-			70,429				35,475			70,429			105,904
ProLogis Parc Tomiya III		1				8,609			-			22,868				8,609			22,868			31,477
ProLogis Park Sendai		1				4,913			-			3,437				4,913			3,437			8,350
Yoshimi Distribution Center		1				21,258			-			18,442				21,258			18,442			39,700

Japan		10				146,415			-			256,516				146,415			256,516			402,931

Subtotal Asian Markets:		10				146,415			-			256,516				146,415			256,516			402,931

Total Development Portfolio		79				592,397			-			881,583				592,397			881,583			1,473,980

GRAND TOTAL		1,686				4,707,415			11,903,743			3,498,274				4,820,034			15,289,398			20,109,432			(2,748,835	)

Schedule III – Footnotes

(a)	Reconciliation of real estate assets per Schedule III to the Consolidated Balance Sheet at December 31, 2014 (in thousands):


Total per Schedule III	$	20,109,432
Land		1,577,786
Other real estate investments		502,927

Total per consolidated balance sheet	$	22,190,145	(f)

(b)	The aggregate cost for Federal tax purposes at December 31, 2014 of our real estate assets was approximately $14.0 billion (unaudited).

(c)

Real estate assets (excluding land balances) are depreciated over their estimated useful lives. These useful lives are generally five to seven years for capital improvements, 10 years for standard tenant improvements, 25 years for depreciable land improvements on developed buildings, 30 years for acquired industrial properties and 40 years for properties we develop.

Reconciliation of accumulated depreciation per Schedule III to the Consolidated Balance Sheets at December 31, 2014 (in thousands):


Total accumulated depreciation per Schedule III	$	2,748,835
Accumulated depreciation on other real estate investments		41,946

Total per consolidated balance sheet	$	2,790,781

(d)	Properties with an aggregate undepreciated cost of $4.5 billion secure $2.3 billion of mortgage notes. See Note 9 to the Consolidated Financial Statements in Item 8 for more information related to our secured mortgage debt.

(e)

Assessment bonds of $15.5 million are secured by assessments (similar to property taxes) on various underlying real estate properties with an aggregate undepreciated cost of $783.4 million. See Note 9 to the Consolidated Financial Statements in Item 8 for more information related to our assessment bonds.

(f)	A summary of activity for our real estate assets and accumulated depreciation for the years ended December 31 (in thousands):


	2014		2013		2012
Real estate assets:
Balance at beginning of year	$	18,822,081	$	23,559,891	$	22,413,079
Acquisitions of operating properties, improvements to operating properties, development activity, transfers of land to CIP and net effect of changes in foreign exchange rates and other		3,595,836		2,050,810		2,881,005
Basis of operating properties disposed of		(2,713,300)		(6,857,994)		(1,630,764)
Change in the development portfolio balance, including the acquisition of properties		452,963		69,374		91,112
Impairment of real estate properties (1)		-		-		(194,541)
Assets transferred to held-for-sale		(48,148)		-		-

Balance at end of year	$	20,109,432	$	18,822,081	$	23,559,891

Accumulated Depreciation:
Balance at beginning of year	$	2,540,267	$	2,460,642	$	2,150,713
Depreciation expense		490,298		505,691		665,239
Balances retired upon disposition of operating properties and net effect of changes in foreign exchange rates and other		(277,516)		(426,066)		(355,310)
Assets transferred to held-for-sale		(4,214)		-		-

Balance at end of year	$	2,748,835	$	2,540,267	$	2,460,642

(1)	The impairment charges we recognized in 2012 were primarily due to our change of intent to no longer hold these assets for long-term investment. See Note 15 to the Consolidated Financial Statements in Item 8 for more information related to our impairment charges.