History

A LEADER IN COMMERCIAL REAL ESTATE

Since its founding in 1972 in Indianapolis, Indiana, Duke Realty has been a leader in commercial real estate. From its first property—Building One in Park 100 Business Park on the northwest side of Indianapolis—Duke Realty has set the standard for providing high-quality, innovative, and distinctive environments that meet businesses’ operating needs.

Capitalizing on its success in Indianapolis with industrial property development, Duke Realty began to expand both geographically and by product type in the late 1970s. Cincinnati, Ohio was the first market outside of its headquarters city that Duke Realty entered. In addition to opening its first satellite office, Duke Realty expanded its development portfolio to include office properties.

Throughout the next decade, Duke Realty’s industrial and office developments grew. Offices were opened in Nashville, Tennessee, and Columbus, Ohio, with Duke Realty becoming one of the largest developers and property owners in each of these markets.

In October 1993, Duke Realty issued an Initial Public Offering (IPO) that generated more than $310 million and became a publicly traded company on the New York Stock Exchange (NYSE symbol: DRE). At the time of the IPO, Duke Realty had a 10 million-square foot portfolio.

Following its transition to a public company, Duke Realty continued its geographic expansion to include the Midwestern cities of Cleveland, Ohio; St. Louis, Missouri; Chicago, Illinois; and Minneapolis/St. Paul, Minnesota. An acquisition in 1999 broadened Duke Realty’s geographic presence to include several southeastern markets: Atlanta, Georgia; Dallas, Texas; Raleigh, North Carolina; and Central and South Florida. At year end 2000, Duke Realty’s property portfolio exceeded 100 million square feet.

Duke Realty embarked on an ambitious growth plan in 2006, expanding its boundaries to include Washington, D.C.; Houston, Texas; and Phoenix, Arizona. In keeping with its strategy of seeking development opportunities near major seaports, in 2007, Duke Realty expanded operations by developing or acquiring additional properties in Savannah, Georgia; Baltimore, Maryland; Linden, New Jersey; and Norfolk, Virginia.

In 2007, Duke Realty also expanded its product offering to include healthcare properties through its acquisition of Bremner Healthcare. Duke Realty’s healthcare team is focused on the planning, development, ownership, and management of healthcare facilities, ranging from small medical office buildings to facilities with diagnostics, oncology centers, or surgery centers.

In 2011, Duke Realty acquired its first industrial property in Southern California, followed by acquisitions in 2012 that also gave the company properties in Northern California. In 2013, Duke Realty expanded geographically adding properties near both coasts, including Seattle, Washington, Eastern Pennsylvania, New Jersey and Delaware.

Duke Realty also has a proven track record in providing built-to-suit and third-party development services. Duke Realty has an excellent reputation for partnering with some of the largest, most recognized companies in the world to develop properties that meet their exact specifications.

For more than 40 years, Duke Realty has developed premier buildings across the country. Our expertise, financial strength, and commitment to quality have cemented our reputation and helped position us as one of the largest publicly traded owners, managers, and developers of industrial/medical office/office properties in the United States.

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