EASTON, PA-ProLogis has signed a fourth-quarter lease agreement for 510,000 square feet of previously unleased space and a 135,000-square-foot build-to-suit expansion with Walgreens. The drugstore chain will move into the existing 510,000-square-foot space during the fourth quarter of 2010 before expanding into an additional 135,000 square feet in the spring of 2011 at ProLogis’ Park 33 Building One here.

“We are excited to enter into a business relationship with Walgreens, a new customer for ProLogis,” Larry Harmsen, ProLogis president of the US and Canada, said in a statement. “Not only do we expect to meet Walgreens distribution needs prior to the busy 2011 holiday season, but this transaction enables us to lease a large amount of our development portfolio, bringing the building to 100% leased while monetizing the remaining land at the site.”

Upon completion of the Walgreens expansion, ProLogis Park 33 will comprise two facilities totaling approximately 1.9 million square feet. BMW occupies 870,000 square feet in Building Two, which was completed in December of 2008, while B&G Foods occupies 420,000 square feet in Building One. The company’s total distribution space in Pennsylvania is 22.2 million square feet.