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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 UrvhjXd81cNI3ZRIu8z/93P/9eRNfD/Xmv3yO5PsXElz4hZR5qwW/jmmZemFBb3P
 9AVafNutcpnb8c6kGTtFmw==

<SEC-DOCUMENT>0001209191-04-001539.txt : 20040106
<SEC-HEADER>0001209191-04-001539.hdr.sgml : 20040106
<ACCEPTANCE-DATETIME>20040106160046
ACCESSION NUMBER:		0001209191-04-001539
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040102
FILED AS OF DATE:		20040106

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BROOKSHER K DANE
		CENTRAL INDEX KEY:			0001202431

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12846
		FILM NUMBER:		04510223

	MAIL ADDRESS:	
		STREET 1:		14100 E 35TH PL
		CITY:			AURORA
		STATE:			CO
		ZIP:			80011

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PROLOGIS
		CENTRAL INDEX KEY:			0000899881
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				742604728
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		14100 EAST 35TH PLACE
		CITY:			AURORA
		STATE:			CO
		ZIP:			80011
		BUSINESS PHONE:		3033759292

	MAIL ADDRESS:	
		STREET 1:		14100 EAST 35TH PLACE
		CITY:			AURORA
		STATE:			CO
		ZIP:			80011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PROLOGIS TRUST
		DATE OF NAME CHANGE:	19980717

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SECURITY CAPITAL INDUSTRIAL TRUST
		DATE OF NAME CHANGE:	19931228
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bdn11669_bdn1kdb.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2004-01-02</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000899881</issuerCik><issuerName>PROLOGIS</issuerName>        <issuerTradingSymbol>PLD</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001202431</rptOwnerCik><rptOwnerName>BROOKSHER K DANE</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>14100 E. 35TH PLACE</rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>AURORA</rptOwnerCity><rptOwnerState>CO</rptOwnerState><rptOwnerZipCode>80011</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>1</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Chairman and CEO</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><non
DerivativeTransaction><securityTitle><value>Common Shares of Beneficial Interest, par value $0.01</value><footnoteId id="F1" /></securityTitle><transactionDate><value>2004-01-02</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>40000</value></transactionShares><transactionPricePerShare><value>0</value><footnoteId id="F1" /></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>169651.3815</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Common Shares of Beneficial Interest, par value $0.01</value><
footnoteId id="F2" /></securityTitle><transactionDate><value>2004-01-02</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>F</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>12551.754</value><footnoteId id="F2" /></transactionShares><transactionPricePerShare><value>31.93</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>157099.6275</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Common Shares of Beneficial Interest, par value $0.01</value><footnoteId id="F3" /></securityTitle><transactionDate><value>2004-01-02</value></transactionDate><
transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>10950.543</value></transactionShares><transactionPricePerShare><value>0</value><footnoteId id="F3" /></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>168050.1705</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Common Shares of Beneficial Interest, par value $0.01</value><footnoteId id="F2" /></securityTitle><transactionDate><value>2004-01-02</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>F</transactionCode><equ
itySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>1428.519</value><footnoteId id="F2" /></transactionShares><transactionPricePerShare><value>31.93</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>166621.6515</value><footnoteId id="F4" /></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Performance Share Unit Award</value><footnoteId id="F1" /></securityTitle><conversionOrExercisePrice><value>0</value><footnoteId id="F1" /></conversionOrExercisePrice><transactionDate><value>2004-01-02</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCo
de>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>40000</value></transactionShares><transactionPricePerShare><value>0</value><footnoteId id="F1" /></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>1988-08-08</value><footnoteId id="F1" /></exerciseDate><expirationDate><value>1988-08-08</value><footnoteId id="F1" /></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Shares of Beneficial Interest</value></underlyingSecurityTitle><underlyingSecurityShares><value>40000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>2188766</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction><derivativeTransaction><s
ecurityTitle><value>Dividend Equivalent Units</value><footnoteId id="F3" /></securityTitle><conversionOrExercisePrice><value>0</value><footnoteId id="F3" /></conversionOrExercisePrice><transactionDate><value>2004-01-02</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>10950.543</value></transactionShares><transactionPricePerShare><value>0</value><footnoteId id="F3" /></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>1988-08-08</value><footnoteId id="F3" /></exerciseDate><expirationDate><value>1988-08-08</value><footnoteId id="F3" /></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Shares of Beneficial Interest</value></underlyingSecurityTitle><underlyingSecurityShares><value>10950.543</value></underlying
SecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>2177815</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Automatic conversion of performance share unit award earned on 12/31/01.  Units convert into common shares on a 1 for 1 basis.  </footnote><footnote id="F2">Payment of tax liaibility by reporting person to issuer pursuant to the conversion of performance share unit award and dividend equivalent unit award.</footnote><footnote id="F3">Automatic conversion of dividend equivalent units.  Dividend Equivalent Units are earned and accrue on restricted stock and option grants pursuant to the ProLogis 1997 Long-Term Incentive Plan.  The rate of vest and the expiration date is the same as the underlying grant. DEUs are converted in common shares on a 1 for 1 basis.</footno
te><footnote id="F4">Includes shares purchased through the ProLogis Employee Share Purchase Plan and shares acquired through the ProLogis Dividend Reinvestment Program for Mr. Brooksher and his spouse.</footnote></footnotes><ownerSignature><signatureName>Kate M. Meade, Attorney-in-fact on behalf of K. Dane Brooksher</signatureName><signatureDate>2004-01-02</signatureDate></ownerSignature></ownershipDocument>

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</SEC-DOCUMENT>
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