SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HUNTER DONALD J JR

(Last)

(First)

(Middle)

5600 BLAZER PARKWAY

SUITE 100

(Street)

DUBLIN

43017

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
DUKE REALTY CORP [ DRE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Regional EVP, Indianapolis

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2005

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/01/2005		M		10,948	A	$16.06	24,594	D
Common Stock	09/01/2005		S		10,948	D	$33	13,667⁽¹⁾	D
Common Stock								80	I	By Spouse
Common Stock								428⁽²⁾	I	By 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Units of Duke Realty Limited Partnership	⁽³⁾							10/04/1994	⁽³⁾	Common Stock	8,020		8,020	D
Employee Stock Options - Right to Buy	$16.0625	09/01/2005		M			10,948	⁽⁴⁾	01/31/2006	Common Stock	10,948	⁽⁴⁾	0	D
Employee Stock Options - Right to Buy	$19.4375							⁽⁵⁾	01/29/2007	Common Stock	14,192		14,192	D
Employee Stock Options - Right to Buy	$21.5625							⁽⁶⁾	07/23/2007	Common Stock	15,000		15,000	D
Employee Stock Options - Right to Buy	$24.25							⁽⁷⁾	01/28/2008	Common Stock	14,220		14,220	D
Employee Stock Options - Right to Buy	$23.0625							⁽⁸⁾	01/26/2009	Common Stock	17,444		17,444	D
Employee Stock Options - Right to Buy	$20							⁽⁹⁾	01/25/2010	Common Stock	17,241		17,241	D
Employee Stock Options - Right to Buy	$24.98							⁽¹⁰⁾	01/31/2011	Common Stock	17,485		17,485	D
Employee Stock Options - Right to Buy	$23.35							⁽¹¹⁾	01/30/2012	Common Stock	13,783		13,783	D
Employee Stock Options - Right to Buy	$25.42							⁽¹²⁾	02/19/2013	Common Stock	11,757		11,757	D
Employee Stock Options - Right to Buy	$32.51							⁽¹³⁾	01/28/2014	Common Stock	9,193		9,193	D
Employee Stock Options - Right to Buy	$32.33							⁽¹⁴⁾	02/10/2015	Common Stock	14,289		14,289	D
Phantom Stock Units	⁽¹⁵⁾							⁽¹⁵⁾	⁽¹⁵⁾	Common Stock	1,529		1,529⁽¹⁵⁾	D

Explanation of Responses:

1. Between August 11, 2005 and August 31, 2005, the Reporting Person acquired 21 shares of the Company's common stock through dividend reinvestment.

2. Between August 11, 2005 and August 31, 2005, the Reporting Person acquired 6 shares under the Company's 401(k) Plan.

3. Units of Duke Realty Limited Partnership are convertible on a one to one basis to the Company's common stock and have no expiration date.

4. The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/31/2001.

5. The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/29/2002.

6. The Stock Options vested annually at a rate of 20% per year and were fully vested on 7/23/2002.

7. The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/28/2003.

8. The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/26/2004.

9. The Stock Options vested annually at a rate of 20% per year and were fully vested on 01/25/2005.

10. The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/31/2006.

11. The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/30/2007.

12. The Stock Options vest annually at a rate of 20% per year and will be fully vested on 2/19/2008.

13. The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/28/2009.

14. The Stock Options vest annually at a rate of 20% per year and will be fully vested on 2/10/2010.

15. Represents phantom stock units vested under the 2000 Performance Share Plan of Duke Realty Corporation. Between August 11, 2005 and August 31, 2005, the Reporting Person acquired 84 phantom stock units through dividend reinvestment. The units are valued on a one to one basis to the Company's common stock and are to be settled in cash upon the Reporting Person's termination of employment.

Remarks:

	Valerie J. Steffen for Donald J. Hunter, Jr. per POA previously filed	09/01/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.