Sec Form 4 Filing - HUNTER DONALD J JR @ DUKE REALTY CORP - 2006-11-21

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person HUNTER DONALD J JR 2. Issuer Name and Ticker or Trading Symbol DUKE REALTY CORP [ DRE] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Regional EVP, Indianapolis (Last) (First) (Middle) 5600 BLAZER PARKWAY, SUITE 100 3. Date of Earliest Transaction (MM/DD/YY) 11/21/2006 (Street) DUBLIN, OH43017 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 11/21/2006 F 270 ( 1 ) D $ 40.6 26,922 ( 2 ) D Common Stock 80 I By Spouse Common Stock 662 I By 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exerci sable Expiration Date Title Amount or Number of Shares Units of Duke Realty Limited Partnership ( 3 ) 10/04/1994 ( 3 ) Common Stock 8,020 8,020 D Employee Stock Options - Right to Buy $ 18.8797 08/09/2006 M 5,981 ( 4 ) 01/29/2007 Common Stock 5,981 $ 0 8,623 D Employee Stock Options - Right to Buy $ 18.8797 08/10/2006 M 8,623 ( 4 ) 01/29/2007 Common Stock 8,623 $ 0 0 D Employee Stock Options - Right to Buy $ 20.9437 08/09/2006 M 9,028 ( 5 ) 07/23/2007 Common Stock 9,028 $ 0 6,407 D Employee Stock Options - Right to Buy $ 20.9437 08/10/2006 M 6,407 ( 5 ) 07/23/2007 Common Stock 6,407 $ 0 0 D Employee Stock Options - Right to Buy $ 23.5541 ( 6 ) 01/28/2008 Common Stock 14,633 14,633 D Employee Stock Options - Right to Buy $ 22.4007 ( 7 ) 01/26/2009 Common Stock 17,950 17,950 D Employee Stock Options - Right to Buy $ 19.4261 ( 8 ) 01/31/2010 Common Stock 17,741 17,741 D Employee Stock Options - Right to Buy $ 24.2632 ( 9 ) 01/31/2011 Common Stock 17,992 17,992 D Employee Stock Options - Right to Buy $ 22.6799 ( 10 ) 01/30/2012 Common Stock 14,183 14,183 D Employee Stock Options - Right to Buy $ 24.6905 ( 11 ) 02/19/2003 Common Stock 12,098 12,098 D Employee Stock Options - Right to Buy $ 31.5771 ( 12 ) 01/28/2014 Common Stock 9,459 9,459 D Employee Stock Options - Right to Buy $ 31.4022 ( 13 ) 02/10/2015 Common Stock 14,703 14,703 D Employee Stock Options - Right to Buy $ 34.13 ( 14 ) 02/10/2016 Common Stock 22,784 22,784 D Phantom Stock Units ( 15 ) ( 15 ) ( 15 ) Common Stock 3,177 3,177 ( 15 ) D Phantom Stock Units ( 16 ) ( 16 ) ( 16 ) Common Stock 287 287 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other HUNTER DONALD J JR 5600 BLAZER PARKWAY SUITE 100 DUBLIN, OH43017 Regional EVP, Indianapolis Signatures Tracy D. Swearingen for Donald J. Hunter, Jr. per POA 11/22/2006 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Represents shares withheld for taxes upon the vesting of restricted stock units granted pursuant to Rule 16b-3 of Section 16b of the Securities Exchange Act of 1934. ( 2 )Between August 10, 2006 and November 22, 2006, the Reporting Person acquired 98 shares of the Company's common stock through dividend reinvestment. ( 3 )Units of Duke Realty Limited Partnership are convertible on a one to one basis to the Company's common stock and have no expiration date. ( 4 )The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/29/2002. ( 5 )The Stock Options vested annually at a rate of 20% per year and were fully vested on 7/23/2002. ( 6 )The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/28/2003. ( 7 )The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/26/2004. ( 8 )The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/25/2005. ( 9 )The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/31/2006. ( 10 )The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/30/2007. ( 11 )The Stock Options vest annually at a rate of 20% per year and will be fully vested on 2/19/2008. ( 12 )The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/28/2009. ( 13 )The Stock Options vest annually at a rate of 20% per year and will be fully vested on 2/10/2010. ( 14 )The Stock Options vest annually at a rate of 20% per year and will be fully vested on 2/10/11. ( 15 )Represents phantom stock units vested under the 2000 Performance Share Plan of Duke Realty Corporation. Between August 11, 2006 and November 22, 2006, the Reporting Person acquired 79 phantom stock units through dividend reinvestment. The units are valued on a one to one basis to the Company's common stock and are to be settled in cash upon the Reporting Person's termination of employment. ( 16 )Represents phantom stock units accrued under the Executives' Deferred Compensation Plan of Duke Realty Services Limited Partnership. The units are valued on a one to one basis to the Company's common stock and are to be settled in cash upon the Reporting Person's termination of employment.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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