Duke Realty was a

real estate investment trust A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...

(REIT) based in

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, that invested in industrial properties. 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. Notable properties developed by the company include the Captrust Tower in

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, and the Scripps Center in

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History

P.R. Duke Construction and Duke Development Companies were formed in 1972 by Philip R. Duke, John Rosebrough, and John Wynne''The Encyclopedia of Indianapolis''
David J. Bodenhamer and Robert G. Barrows, editors. Indiana University Press. 1994; p. 514. with $40,000 of capital. Its first development was in the Park 100 neighborhood in northwest Indianapolis. In 1985, Duke realty Investments was formed. Phil Duke sold his shares in 1986 and Duke Associates was formed as the holding company of P.R. Duke Construction Company and P.R. Duke Realty. In 1993, the company announced that Duke Realty Investment would become a

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via an

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on the

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, which raised $310 million. In 1999, it merged with Weeks Corporation, another

REIT A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...

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 list of regions of the United States, region of the United States that includes Arizona and New Mexico, along with adjacen ...

. 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

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. In October 2022, the company was acquired by Prologis for $23 billion.Prologis, the world’s largest warehouse operator, agreed to acquire rival real-estate company Duke Realty in a $23 billion deal

The Wall Street Journal ''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...

. June 14, 2022.

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 Real estate investment trusts Defunct companies based in Indianapolis