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 *
CAVANAUGH WILLIAM III
  2. Issuer Name and Ticker or Trading Symbol
DUKE REALTY CORP [DRE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
P.O. BOX 1551, 410 SOUTH WILMINGTON
3. Date of Earliest Transaction (Month/Day/Year)
11/09/2005
(Street)

RALEIGH,, NC 27601
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               19,775 D  

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
Employee Stock Options-Right to Buy $ 20.4257 11/09/2005   D(1)     6,900   (1) 11/09/2005 Common Stock 6,900 (1) 0 D  
Employee Stock Options-Right to Buy $ 19.8395 11/09/2005   A(1)   7,100     (2) 12/31/2008 Common Stock 7,100 (1) 7,100 D  
Employee Stock Options-Right to Buy $ 20 11/09/2005   D(1)     2,500   (1) 11/09/2005 Common Stock 2,500 (1) 0 D  
Employee Stock Options-Right to Buy $ 19.4261 11/09/2005   A(1)   2,572     (3) 01/25/2010 Common Stock 2,572 (1) 2,572 D  
Employee Stock Options-Right to Buy $ 24.98 11/09/2005   D(1)     2,500   (1) 11/09/2005 Common Stock 2,500 (1) 0 D  
Employee Stock Options-Right to Buy $ 24.2632 11/09/2005   A(1)   2,572     (4) 01/31/2011 Common Stock 2,572 (1) 2,572 D  
Employee Stock Options-Right to Buy $ 23.35 11/09/2005   D(1)     2,500   (1) 11/09/2005 Common Stock 2,500 (1) 0 D  
Employee Stock Options-Right to Buy $ 22.6799 11/09/2005   A(1)   2,572     (5) 01/30/2012 Common Stock 2,572 (1) 2,572 D  
Employee Stock Options-Right to Buy $ 24.9 11/09/2005   D(1)     2,500   (1) 11/09/2005 Common Stock 2,500 (1) 0 D  
Employee Stock Options-Right to Buy $ 24.1854 11/09/2005   A(1)   2,572     (6) 01/29/2013 Common Stock 2,572 (1) 2,572 D  
Employee Stock Options-Right to Buy $ 32.51 11/09/2005   D(1)     2,500   (1) 11/09/2005 Common Stock 2,500 (1) 0 D  
Employee Stock Options-Right to Buy $ 31.5771 11/09/2005   A(1)   2,572     (7) 01/28/2014 Common Stock 2,572 (1) 2,572 D  
Phantom Stock Units (8)               (8)   (8) Common Stock 1,772   1,772 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CAVANAUGH WILLIAM III
P.O. BOX 1551
410 SOUTH WILMINGTON
RALEIGH,, NC 27601
  X      

Signatures

 Valerie J. Steffen for Wm Cavanaugh III per POA previously filed   11/09/2005
**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) The reported transactions are a result of option modifications permitted as a result of the issuer's payment of an extraordinary cash dividend. This modification resulted in a deemed cancellation of the "old" option and the grant of a replacement option.
(2) The options were originally granted on 12/31/98 and were fully vested on the grant date.
(3) The options were originally granted on 1/25/00 and provided for vesting at 20% per year commencing on that date. The options were fully vested on 1/25/05.
(4) The options were originally granted on 1/31/01 and provide for vesting at 20% per year commencing on that date. The options will be fully vested on 1/31/06.
(5) The options were originally granted on 1/30/02 and provide for vesting at 20% per year commencing on that date. The options will be fully vested on 1/30/07.
(6) The options were originally granted on 1/29/03 and provide for vesting at 20% per year commencing on that date. The options will be fully vested on 1/29/08.
(7) The options were originally granted on 1/28/04 and provide for vesting at 20% per year commencing on that date. The options will be fully vested on 1/28/09.
(8) The phantom stock units are accrued under the Directors' Deferred Compensation Plan of Duke Realty Corporation. The units are valued on a one to one basis to the Company's common stock and are to be settled in cash and stock upon the Reporting Person's termination as a director of the Issuer.

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