Duke Realty was a

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping ce ...

based in

Indianapolis, Indiana Indianapolis (), colloquially known as Indy, is the List of U.S. state and territorial capitals, state capital and List of U.S. states' largest cities by population, most populous city of the U.S. state of Indiana and the county seat, seat of ...

that invested in industrial warehouses. As of December 31, 2021, it owned or jointly controlled 548 primarily industrial properties containing 162.7 million rentable square feet. In October 2022, it was acquired by

Prologis Prologis, Inc. is a real estate investment trust headquartered in San Francisco, California that invests in logistics facilities. The company was formed through the merger of AMB Property Corporation and Prologis in June 2011, which made Prolog ...

. Notable properties developed by the company include the Captrust Tower in Raleigh,

North Carolina North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia a ...

and the Scripps Center in

Cincinnati Cincinnati ( ) is a city in the U.S. state of Ohio and the county seat of Hamilton County. Settled in 1788, the city is located at the northern side of the confluence of the Licking and Ohio rivers, the latter of which marks the state lin ...

Ohio Ohio () is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Of the List of states and territories of the United States, fifty U.S. states, it is the List of U.S. states and territories by area, 34th-l ...

History

Duke Realty was founded in 1972 by John Rosebrough, Phil Duke, and John Wynne with $40,000 of capital. Its first development was in the Park 100 neighborhood in northwest Indianapolis. In 1993, the company became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( l ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...

, raising $310 million. In 1999, it merged with Weeks Corporation, another real estate investment trust with properties primarily in the

Southwestern United States The Southwestern United States, also known as the American Southwest or simply the Southwest, is a geographic and cultural region of the United States that generally includes Arizona, New Mexico, and adjacent portions of California, Colorado, N ...

. In 2006, it acquired 32 buildings in the Washington, D.C. area from the Mark Winkler Company. In May 2017, it sold its medical office properties to Healthcare Trust of America for $2.8 billion to focus on its industrial properties. In July 2017, Duke Realty was added to the

S&P 500 The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of ...

. In October 2022, the company was acquired by

References

{{authority control 1972 establishments in Indiana 1993 initial public offerings Companies formerly listed on the New York Stock Exchange Real estate companies established in 1972 2022 mergers and acquisitions