-- In Norfolk, Virginia, three industrial buildings totaling 466,000 square feet located near the Port of Virginia that are 100 percent leased; -- In Sumner, Washington, one industrial building totaling 120,000 square feet located near the Port of Tacoma that is 100% leased; and -- In Baytown, Texas, one industrial building totaling 172,000 square feet located near the Port of Houston that is 100% leased.The new held-for-rental developments for the fourth quarter include:
-- In Tampa, Florida, a 136,000 square foot industrial project that is 100% pre-leased located in Duke's Fairfield Distribution Center business park; -- In Houston, Texas, a 158,000 square foot industrial project located in the Company's Point North Cargo industrial park; -- In Atlanta, Georgia, a 213,000 square foot industrial project located in Duke's Camp Creek Business Center industrial park; -- In Raleigh, North Carolina, a 303,000 square foot suburban office project that is 33 percent pre-leased. The project will include ground floor retail and will be developed within a 50/50 joint venture with a local Raleigh area partner; -- In suburban Chicago, Illinois, a 140,000 square foot suburban office project located in the Rosemont submarket; -- In Tampa, Florida, a 130,000 square foot suburban office project located in Duke's Highland Oaks office park; -- In Nashville, Tennessee, a 47,000 square foot suburban office project located in Duke's Aspen Grove Business Center; and -- In Mishawaka, Indiana, a 195,000 square foot medical office project for Saint Joseph's Regional Medical Center that is 75 percent leased.The new held-for-sale developments for the fourth quarter include:
-- In Dallas, Texas, a 822,000 square foot industrial project that is 100% leased to Unilever; -- In Jacksonville, Florida, a 772,000 square foot industrial project that is also 100% leased to Unilever; -- In Indianapolis, Indiana, a 554,000 square foot expansion onto an existing 646,000 square foot industrial project located in the All Points Midwest business park that is 100% leased to Prime Distribution Services; and -- In Orlando, Florida, a 101,000 square foot suburban office project that is 100% leased to Disney and located in Duke's Celebration office park.Duke's $209.3 million of fourth quarter dispositions included $36.6 million of dispositions from its held-for-rental portfolio at an average stabilized capitalization rate of 7.5 percent. The remaining $172.7 million of dispositions are from its held-for-sale portfolio at an average stabilized capitalization rate of 7.1 percent. Fourth quarter held-for-rental dispositions include:
-- A 360,000 square foot industrial portfolio comprised of 7 flex properties within Duke's Dugan Realty joint venture in Indianapolis; -- A 177,000 square foot industrial property in Atlanta that was within Duke's Dugan Realty joint venture; -- A 90,000 square foot suburban office property in Raleigh; and -- A 71,000 square foot industrial property in Nashville.Fourth quarter held-for-sale dispositions include:
-- A 651,000 square foot industrial property in Chicago; -- A 515,000 square foot industrial property in West Branch, Iowa; -- A 199,000 square foot suburban office property in Columbus, Ohio; -- A 137,000 square foot suburban office property in Chicago; -- Also in Chicago, a 40,000 square foot suburban office property; -- A 112,000 square foot medical office property in St. Louis; and -- A 121,000 square foot retail project in Indianapolis.About Duke Realty Corporation Duke Realty Corporation specializes in the ownership, construction, development, leasing and management of office, industrial, medical office and retail real estate. It is the largest publicly traded, vertically integrated office/industrial real estate company in the United States. The company owns, manages or has under development more than 129 million rentable square feet in 22 major U.S. cities. Duke, which controls more than 7,600 acres of land for over 112 million square feet of future development, also provides nationwide real estate solutions through its national development division. More information about Duke is available on the Internet: www.dukerealty.com
Contact Information: Investor Relations Contacts: Shona L. Bedwell 317.808.6169 Randy A. Henry 317.808.6060 News Media Contact: Joel Reuter 317.808.6137