Ownership Submission
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 OF SECURITIES

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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(Print or Type Responses)
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 (Month/Day/Year)
11/21/2006
(Street)

DUBLIN, OH 43017
4. If Amendment, Date Original Filed(Month/Day/Year)
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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year)
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 Exercisable 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, OH 43017
      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:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(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.

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