The rankings are based on data provided by participating companies. Developers were asked to provide their volume of activity for the 2005 calendar year, including the amount of space completed or under construction in the U.S. as of Dec. 31, 2005.

1. ProLogis

   Total Industrial Space Developed or Under Construction: 25.2 million sq. ft.
   4545 Airport Way
   Denver, CO 80239
   Phone: (303) 567-5000
   Fax: (303) 567-5605
   Website: www.prologis.com
   Officers: Jeff Schwartz, CEO; Walt Rakowich, COO; Ted Antenucci, President, Global Development

2. Panattoni Development Co.

   Total Industrial Space Developed or Under Construction: 20.6 million sq. ft.
   8401 Jackson Rd.
   Sacramento, CA 95826
   Phone: (916) 381-1561
   Website: www.panattoni.com
   Officers: Carl Panattoni, Chairman; Dudley Mitchell, CEO; Greg Thurman, President

3. Trammell Crow Co.

   Total Industrial Space Developed or Under Construction: 18.6 million sq. ft.
   2001 Ross Ave., Suite 3400
   Dallas, TX 75201
   Phone: (214) 863-3000
   Website: www.trammellcrow.com
   Officers: Robert E. Sulentic, Chariman/CEO; Derek R. McClain, CFO; Michael J. Lafitte, President, Global Services

4. The Opus Group

   Total Industrial Space Developed or Under Construction: 12.9 million sq. ft.
   10350 Bren Road West
   Minnetonka, MN 55343
   Phone: (952) 656-4444
   Website: www.opuscorp.com
   Officers: Keith Bednarowski, Chairman, Opus Corp.; Mark Rauenhorst, President/CEO, Opus Corp.; Steve Polacek, Chief Admin Officer/CFO, Opus Corp.

5. AMB Property Corp.

   Total Industrial Space Developed or Under Construction: 11.9 million sq. ft.
   Pier 1, Bay 1
   San Francisco, CA 94111
   Phone: (415) 394-9000
   Website: www.amb.com
   Officers: Hamid R. Moghadam, Chairman/CEO; W. Blake Baird, President/Director; Michael A. Coke, EVP/CFO

6. Duke Realty Corp.

   Total Industrial Space Developed or Under Construction: 10.9 million sq. ft.
   600 E. 96th St., Suite 100
   Indianapolis, IN 46240
   Phone: (317) 808-6000
   Website: www.dukerealty.com
   Officers: Dennis D. Oklak, Chairman/CEO; Robert M. Chapman, SEVP/Head of Real Estate Operations; Matthew Cohoat, EVP/CFO

7. First Industrial Realty Trust Inc.

   Total Industrial Space Developed or Under Construction: 8.5 million sq. ft.
   311 S. Wacker Dr., Suite 4000
   Chicago, IL 60606
   Phone: (312) 344-4300
   Website: www.firstindustrial.com
   Officers: Michael W. Brennan, President/CEO/Director; Michael J. Havala, CFO; Johannson L. Yap, Chief Investment Officer

8. Majestic Realty Co.

   Total Industrial Space Developed or Under Construction: 7.3 million sq. ft.
   13191 Crossroads Pkwy. North, Sixth Floor
   City of Industry, CA 91746-3497
   Phone: (562) 692-9581
   Website: www.majesticrealty.com
   Officers: Edward P. Roski Jr., Chairman of the Board/CEO; David A. Wheeler, President; Jay H. Bradford, EVP/CFO

9. CenterPoint Properties

   Total Industrial Space Developed or Under Construction: 6.9 million sq. ft.
   1808 Swift Dr.
   Oak Brook, IL 60523
   Phone: (630) 586-8000
   Website: www.centerpoint-prop.com
   Officers: Michael M. Mullen, CEO; Paul S. Fisher, President; James N. Clewlow, Chief Investment Officer

10. IDI

    Total Industrial Space Developed or Under Construction: 6.4 million sq. ft.
    3424 Peachtree Rd. NE, Suite 1500,
    Monarch Tower
    Atlanta, GA 30326
    Phone: (404) 479-4000
    Website: www.idi.com
    Officers: Henry D. Greg Gregory, Jr., Vice Chairman/CEO; Tim Gunter, President; David Birdwell, EVP/COO

11. Hillwood

    Total Industrial Space Developed or Under Construction: 5.6 million sq. ft.
    13600 Heritage Pkwy., Suite 200
    Fort Worth, TX 76177
    Phone: (817) 224-6000
    Website: www.hillwood.com
    Officers: Ross Perot Jr., Chairman; Mike Berry, President, Hillwood Properties; Todd Platt, CEO, Hillwood Investments

12. McShane Corp.

    Total Industrial Space Developed or Under Construction: 3.9 million sq. ft.
    9550 W. Higgins Rd., Suite 200
    Rosemont, IL 60018
    Phone: (847) 292-4300
    Website: www.mcshanecorp.com
    Officers: James A. McShane, CEO; Hunter Barrier, President; Melvin D. Meyer, CFO

13. Lincoln Property Co.

    Total Industrial Space Developed or Under Construction: 3.6 million sq. ft.
    500 N. Akard, Suite 3300
    Dallas, TX 75201
    Phone: (214) 740-3300
    Fax: (214) 740-3441
    Website: www.lincolnproperty.com
    Officers: Mack Pogue, Chairman; Tim Byrne, President/CEO, Residential Division; Bill Duvall, President/CEO, Commercial Division

14. Liberty Property Trust

    Total Industrial Space Developed or Under Construction: 3.3 million sq. ft.
    500 Chesterfield Pkwy.
    Malvern, PA 19355
    Phone: (610) 648-1700
    Fax: (610) 644-4129
    Email: jleonard@libertyproperty.com
    Website: www.libertyproperty.com Officers: William P. Hankowsky, CEO/President/Chairman; George J. Alburger, CFO/EVP; Robert E. Fenza, COO/EVP

15. USAA Real Estate Co.

    Total Industrial Space Developed or Under Construction: 3.1 million sq. ft.
    9830 Colonnade Blvd., Suite 600
    San Antonio, TX 78230
    Phone: (210) 498-3222
    Fax: (210) 498-3259
    Email: sharon.ballenger@usaa.com
    Website: www.usaarealco.com
    Officers: T. Patrick Duncan, President/CEO; James E. Loyd, VP, Real Estate Investments; Susan Wallace, VP, Co-Investments & Disposition

16. Ashley Capital

    Total Industrial Space Developed or Under Construction: 2.8 million sq. ft.
    919 Third Ave., 39th Floor
    New York, NY 10022
    Phone: (212) 755-1900
    Fax: (212) 750-1850
    Email: ashleynyc@ashleycapital.com
    Website: www.ashleycapital.com
    Officers: Paul Rubacha, Principal; Rick Morton, Principal

17. Hines

    Total Industrial Space Developed or Under Construction: 2.3 million sq. ft.
    2800 Post Oak Blvd.
    Houston, TX 77056
    Phone: (713) 621-8000
    Fax: (713) 966-7886
    Email: george_lancaster@hines.com
    Website: www.hines.com
    Officers: Gerald D. Hines, Chairman; Jeffrey C. Hines, President; C. Hastings Johnson, EVP/CFO

18. Higgins Development Partners

    Total Industrial Space Developed or Under Construction: 2.1 million sq. ft.
    101 E. Erie, Suite 800
    Chicago, IL 60611
    Phone: (312) 943-4999
    Fax: (312) 943-4057
    Email: mrodriguez@higginsdevelopment.com
    Website: www.higginsdevelopment.com
    Officers: John W. Higgins, Chairman/CEO; Thomas R. Samuels, EVP; Dietrich A. Knoer, SVP/CIO

19. AEW Capital Management LP

    Total Industrial Space Developed or Under Construction: 2.056 million sq. ft.
    World Trade Center East, Two Seaport Lane
    Boston, MA 02210
    Phone: (617) 261-9000
    Website: www.aew.com Officers: Jeffrey D. Furber, CEO/Managing Partner; Pamela J. Herbst, Principal; Steven D. Corkin, Principal

20. HSA Commercial Real Estate

    Total Industrial Space Developed or Under Construction: 2.015 million sq. ft.
    180 N. Wacker Dr.
    Chicago, IL 60606
    Phone: (312) 332-3555
    Website: www.hsacommercial.com
    Officers: John E. Shaffer, Chairman; Robert E. Smietana, CEO; Daniel F. Miranda, President

21. The Alter Group

    Total Industrial Space Developed or Under Construction: 1.75 million sq. ft.
    5500 W. Howard St.
    Skokie, IL 60077
    Phone: (847) 676-4300
    Website: www.altergroup.com
    Officers: William A. Alter, Chairman/CEO; Michael J. Alter, President; Richard M. Gatto, EVP

22. Watson Land Co.

    Total Industrial Space Developed or Under Construction: 1.35 million sq. ft.
    22010 S. Wilmington Ave., Suite 400
    Carson, CA 90745
    Phone: (310) 952-6400
    Officers: Bruce A. Choate, President/CEO; Kirk R. Johnson, EVP; Roger von Ting, CFO

23. Heller Industrial Parks Inc.

    Total Industrial Space Developed or Under Construction: 1.3 million sq. ft.
    205 Mill Rd.
    Edison, NJ 08837
    Phone: (732) 287-4880
    Officers: Ellen Carpenter, VP, Operations; Steve Kaufman, VP, Sales/Leasing; Ken Volk, President, I. Heller Construction Co.

24. EastGroup Properties

    Total Industrial Space Developed or Under Construction: 1.24 million sq. ft.
    188 E. Capitol St.
    Jackson, MS 39201
    Phone: (601) 354-3555
    Website: www.eastgroup.net
    Officers: David H. Hoster II, President/CEO; Keith McKey, EVP/CFO; Bruce Corkern, EVP/Controller

25. McDonald Development Co.

    Total Industrial Space Developed or Under Construction: 1.22 million sq. ft.
    3715 Northside Pkwy., Bldg 200, Suite 700
    Atlanta, GA 30327
    Phone: (404) 239-0885
    Website: www.mcdco.com
    Officers: John R. McDonald, President; Tracy A. White, EVP; J. Austin McDonald, VP