-----BEGIN PRIVACY-ENHANCED MESSAGE-----
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,
 DxcVvtuNd6QDHTYQ5sQeitRJBRfdrVm+S9EIuhK44b7J/UmCYL64dujiGBLQZ8P5
 8cnnfASPK0TGLpfpDTlW4Q==

<SEC-DOCUMENT>0001209191-06-018789.txt : 20060320
<SEC-HEADER>0001209191-06-018789.hdr.sgml : 20060320
<ACCEPTANCE-DATETIME>20060320150535
ACCESSION NUMBER:		0001209191-06-018789
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060316
FILED AS OF DATE:		20060320
DATE AS OF CHANGE:		20060320

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WATSON ROBERT J
		CENTRAL INDEX KEY:			0001202437

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12846
		FILM NUMBER:		06698480

	MAIL ADDRESS:	
		STREET 1:		CAPRONILAAN 25 27
		STREET 2:		1119 N P SCHIPHOL RIJK
		CITY:			NETHERLANDS
		STATE:			P8
		ZIP:			99999

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:		4545 AIRPORT WAY
		CITY:			DENVER
		STATE:			CO
		ZIP:			80239
		BUSINESS PHONE:		3033759292

	MAIL ADDRESS:	
		STREET 1:		4545 AIRPORT WAY
		CITY:			DENVER
		STATE:			CO
		ZIP:			80239

	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>bdn33524_bdn7rjw.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-03-16</periodOfReport>

    <issuer>
        <issuerCik>0000899881</issuerCik>
        <issuerName>PROLOGIS</issuerName>
        <issuerTradingSymbol>PLD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001202437</rptOwnerCik>
            <rptOwnerName>WATSON ROBERT J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4545 AIRPORT WAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DENVER</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80239</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>NA President &amp; COO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares of Beneficial  Interest, par value $0.01</value>
            </securityTitle>
            <transactionDate>
                <value>2006-03-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6390</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>55.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares of Beneficial  Interest, par value $0.01</value>
            </securityTitle>
            <transactionDate>
                <value>2006-03-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>433</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>55.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1316</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Spouse</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <ownerSignature>
        <signatureName>Kate M. Meade, Attorney-in-Fact on behalf of Robert J. Watson</signatureName>
        <signatureDate>2006-03-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----