Duke Realty Corporation, a self-administered and self-managed real estate investment trust (REIT), engages in the ownership, construction, development, leasing, and management of office, industrial, retail, and healthcare properties in the Midwest and Southeast United States. Segments The company engages in three operating segments, the first two of which consist of the ownership and rental of office and industrial real estate investments. The third segment consists of its build-to-suit for sale operations and providing various real estate services such as property management, maintenance, leasing, development and construction management to third-party property owners and joint ventures (Service Operations). As of December 31, 2006, the company’s diversified portfolio of 721 rental properties (including 28 properties totaling approximately 4.5 million square feet under development) encompass approximately 113.8 million rentable square feet and are leased by approximately 3,500 tenants whose businesses include manufacturing, retailing, wholesale trade, distribution and professional services. It also owns or controls approximately 6,400 acres of unencumbered land ready for development. INDUSTRIAL PROPERTIES: The company owns interests in 416 industrial properties encompassing approximately 79.2 million square feet that include: Bulk Warehouses: These are industrial warehouse/distribution buildings with clear ceiling heights of approximately 20 feet. The company owns 344 buildings totaling approximately 74.0 million square feet of such properties. Service Centers: Service Centers, also known as flex buildings or light industrial, product type has 12-18 foot clear ceiling heights and a combination of drive-up and dock-height loading access. The company owns 77 buildings totaling approximately 5.2 million square feet of such properties. OFFICE PROPERTIES: The company owns interests in 300 office buildings totaling approximately 34.6 million square feet. These properties include primarily suburban office properties. LAND: The company owns or controls approximately 6,400 acres of land located primarily in existing business parks. Approximately 93 million square feet of additional space can be developed on these sites and substantially all of the land is zoned for either office, industrial or retail development. SERVICE OPERATIONS: The company provides property and asset management, development, leasing and construction services to third party owners in addition to its own properties. The company’s rental operations are conducted through Duke Realty Limited Partnership (DRLP). It also conducts its Service Operations through Duke Realty Services LLC, Duke Realty Services Limited Partnership and Duke Construction Limited Partnership. The company operates through 16 regional offices located in Alexandria, Virginia; Atlanta, Georgia; Cincinnati, Ohio; Columbus, Ohio; Cleveland, Ohio; Chicago, Illinois; Dallas, Texas; Houston, Texas; Minneapolis, Minnesota; Nashville, Tennessee; Orlando, Florida; Phoenix, Arizona; Raleigh, North Carolina; St. Louis, Missouri; Tampa, Florida; and Weston, Florida. Tax Status The company has elected to be taxed as a real estate investment trust (REIT) under the Internal Revenue Code. As a REIT, the company would not be subject to federal income tax purposes, provided that it distributes 90% of taxable income to its shareholders. History Duke Realty Corporation was founded in 1972.
duke realty corp (DRE:New York)
600 East 96th Street
Indianapolis, IN 46240
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