Duke Realty to Develop WakeMed Medical Park

Ambulatory surgery center and Class A medical office space totaling nearly 90,000 square feet are earmarked for new facility on health system’s flagship campus in Raleigh, N.C.

RALEIGH, N.C. and INDIANAPOLIS, Ind. – March 1, 2011) The Raleigh area’s top healthcare and commercial real estate organizations are joining forces to deliver even greater access and convenience to care for patients, physicians and staff.

Raleigh-based WakeMed Health & Hospitals is Wake County’s largest healthcare provider. Indianapolis-based Duke Realty (NYSE: DRE) is the single largest owner of office and industrial space in the Triangle market, which includes the Raleigh area. Together, the two market leaders are developing WakeMed Medical Park on the health system’s flagship campus located on New Bern Avenue near downtown Raleigh.

Plans are still being finalized, but it is anticipated that the first phase of the new development will provide nearly 90,000 square feet of outpatient space on three levels. It will be developed on the north end of WakeMed’s Raleigh Campus at the intersection of Sunnybrook Road and New Bern Avenue.

Duke Realty will finance, develop, own, lease and manage the building, which will be built on a 7.84-acre site leased from WakeMed.

WakeMed Medical Park will be anchored by a 30,000-square foot ambulatory surgery center (ASC) with eight operating rooms and three procedure rooms, an imaging center, a laboratory and a pre-admission testing suite. It will also include the only Class A medical office space on WakeMed’s Raleigh Campus.

“This new facility will strengthen our ability to achieve our mission of providing outstanding and compassionate care to our patients, their families and the communities we serve,” says Kathleen Gormley, WakeMed’s Executive Vice President of Operations and Ambulatory Services. “The location adjacent to our flagship campus provides easy access for our patients needing outpatient care without having to navigate the complexity of the hospital. We are pleased to be working with Duke Realty, as they bring significant expertise in the development of complexes like this.”

“By blending our real estate expertise with WakeMed’s leadership in healthcare, we will soon be offering the Raleigh area a convenient new option for superior healthcare,” says Deeni Taylor, Duke Realty Executive Vice President for Healthcare. “Patients, physicians and staff will all benefit from the availability of this new Class A facility.”

Construction of the new WakeMed Medical Park is scheduled to begin this month with a completion date of May 2012.

The architect is the Raleigh office of Chicago-based Perkins+Will Inc. and the general contractor is the Raleigh office of Birmingham, Ala.-based Brasfield & Gorrie LLC.

Physicians interested in leasing space at WakeMed Medical Park are invited to contact Larry Jarema of Duke Realty at larry.jarema@dukerealty.com or Hooker Manning of Duke Realty at hooker.manning@dukerealty.com.

About WakeMed Health & Hospitals

WakeMed Health & Hospitals is a private, not-for-profit health care organization based in Raleigh, N.C. The 870-bed system comprises a network of health care facilities throughout Wake and Johnston Counties. Centers of excellence include cardiac and vascular care, women’s and children’s services, physical rehab, emergency and trauma, orthopedics, neurosciences, home care, and numerous wellness and community outreach programs. WakeMed’s team of 7,750 employees, 1,000 volunteers and more than 1,000 affiliated physicians serve the residents of North Carolina using the most advanced technologies to ensure the finest in health care. www.wakemed.org

About Duke Realty

Duke Realty owns and operates more than 139 million rentable square feet of industrial, office, and medical office space in 18 major U.S. cities. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty is available at www.dukerealty.com.

Duke Realty’s healthcare division supports hospitals and physician groups with development, ownership, leasing and management services. With more than 20 years in the industry, our team offers proven experience in providing hospitals and physician groups comprehensive planning, development, ownership and facility management services. Projects have ranged from small medical office buildings to large healthcare centers with diagnostics, oncology and surgery services.

Formerly known as BremnerDuke, Duke Realty’s healthcare division was created by the February 2007 acquisition of Bremner Healthcare by Duke Realty. To find out more, please visit www.dukerealty.com/healthcare.

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Duke Realty Corporation