Duke Realty
Duke Realty Corporation was a publicly traded U.S. industrial REIT that owned and operated approximately 167 million rentable square feet of bulk distribution properties across 19 major logistics markets, serving enterprise logistics, warehousing, and manufacturing tenants through recurring long-term leases.
- Company typePublic
- Founded1972
- HeadquartersIndianapolis, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Duke Realty does
Duke Realty Corporation was a publicly traded industrial real estate investment trust (REIT) that owned, managed, and developed bulk distribution buildings across the United States. Headquartered in Indianapolis and founded in 1972, the company operated approximately 167 million rentable square feet of logistics and warehouse assets concentrated in 19 major U.S. logistics markets. Duke Realty was listed on the NYSE under the symbol DRE and was a member of the S&P 500 Index, employing between 501 and 1,000 people at the time of acquisition.
The company's core product was its industrial real estate portfolio, leased primarily to enterprise logistics, warehousing, and manufacturing tenants under long-term commercial agreements. Revenue was generated almost entirely through recurring rental income from these triple-net and gross-leased industrial assets, with earnings distributed to shareholders as quarterly cash dividends, the final declared at $0.28 per share ($1.12 annualized) for September 30, 2022. Duke Realty operated as a single business segment focused on bulk industrial properties, with no consumer-facing or technology-driven product lines.
In June 2022, Duke Realty announced it had entered into a definitive agreement to be acquired by Prologis, Inc., the global logistics real estate leader, for approximately $26 billion in an all-stock transaction. The deal closed on October 3, 2022, with each Duke Realty share converted into 0.475 shares of Prologis common stock. Following closing, Duke Realty was delisted from the NYSE and became part of Prologis, effectively ending its standalone corporate existence.
Duke Realty firmographics
Firmographics- Name
- Duke Realty
- Legal name
- Duke Realty Corporation
- Website
- https://dukerealty.com
- Company type
- Public
- Founded year
- 1972
- Operating status
- Acquired
- Headcount range
- 501–1,000 employees
- Short description
- Duke Realty Corporation was a publicly traded U.S. industrial REIT that owned and operated approximately 167 million rentable square feet of bulk distribution properties across 19 major logistics markets, serving enterprise logistics, warehousing, and manufacturing tenants through recurring long-term leases.
- Ownership category
- akta.pro rank
Duke Realty industry classification
Industry- Product category
- Industrial Real Estate REIT
- NAICS
- Lessors of Real Estate (5311), Rental and Leasing Services (532)
- SIC
- Real Estate Investment Trusts (6798), Lessors Of Real Property, Nec (6519)
- akta.pro primary industry
- REITs & Listed Real Estate Securities (FSAAAKAD)
Keywords
Where Duke Realty is headquartered
LocationHeadquarters
- HQ city
- Indianapolis
- HQ country
- United States
- HQ region
- North America
Markets served
Duke Realty business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Marketing or Sales
Revenue model
- Commercial Real Estate Rental Income: Rental income from industrial properties - Duke Realty owned and operated approximately 167 million rentable square feet of industrial assets generating recurring lease revenue from tenants in logistics markets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | Quarterly dividend distribution to shareholders |
Distribution channels1 record
Duke Realty product offering
Product offeringCore offering
Duke Realty was a publicly traded real estate investment trust (REIT) that owned, managed, and developed bulk distribution buildings and industrial warehouse facilities across 19 major logistics markets in the United States. The company operated approximately 167 million rentable square feet of industrial assets, generating recurring rental income from long-term commercial leases with logistics and industrial tenants.
Product overview
Duke Realty was a publicly traded industrial real estate investment trust (REIT) that operated as a single business segment focused on industrial properties. The company owned and managed approximately 167 million rentable square feet of industrial assets in 19 major logistics markets across the United States. Duke Realty was listed on the NYSE under the symbol DRE and was a member of the S&P 500 Index. In October 2022, Duke Realty was acquired by Prologis and is now part of that company.
Differentiator
Problem solved
Functional benefit
Products and services
- Industrial Real Estate Portfolio
Companies that use Duke Realty
Customer profileSegments1 record
Ideal customer profiles1 record
Duke Realty technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Duke Realty partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- PrologiscoreDuke Realty was acquired by Prologis, the global leader in logistics real estate, for approximately $26 billion in June 2022. The transaction closed on October 3, 2022. Each Duke Realty share was converted to 0.475 shares of Prologis common stock. This acquisition significantly expanded Prologis's industrial real estate portfolio in the United States.
Scale indicators3 records
Recent moves4 records
Expansion highlights2 records
Duke Realty competitors and assessment
Company assessmentBroad incumbents
- Prologis: Prologis is the global leader in logistics real estate and Duke's parent following the 2022 acquisition; directly comparable as the largest publicly-traded industrial REIT with a multinational portfolio of modern distribution facilities serving the same e-commerce/logistics tenant base.
Direct peers
- STAG Industrial: STAG Industrial is a publicly-traded REIT focused on single-tenant industrial properties across the U.S., making it a close comparable to Duke's bulk distribution business model with a similar tenant base.
- First Industrial Realty Trust: First Industrial is a U.S.-focused industrial REIT operating a comparable portfolio of bulk distribution and light industrial properties. It competes head-to-head with Duke for institutional logistics tenants across many of the same Sun Belt and Midwest markets.
- Liberty Property Trust: Liberty Property Trust was a major U.S. industrial REIT acquired by Prologis in 2020; as a former direct peer to Duke in bulk distribution logistics, it is a benchmark for valuation and competitive positioning within the consolidated industrial REIT landscape.
- EastGroup Properties: EastGroup is a pure-play industrial REIT focused on bulk distribution and last-mile facilities in Sun Belt markets, with a similar tenant base and business model to Duke's industrial portfolio. Comparable scale and tenant mix make it a direct peer.
- Terreno Realty Corporation: Terreno Realty owns and operates industrial properties across six major U.S. coastal markets, with a comparable focus on infill logistics real estate. It directly competes with Duke for tenants and investment opportunities in similar submarkets.
- DCT Industrial Trust: DCT Industrial was a U.S.-focused industrial REIT acquired by Prologis in 2018; it is a directly comparable industrial REIT peer that competed with Duke for institutional logistics tenants and high-quality bulk distribution assets.
- Rexford Industrial Realty: Rexford is a pure-play industrial REIT concentrated in Southern California infill logistics markets, overlapping significantly with Duke's strategy of targeting high-barrier logistics submarkets serving institutional tenants.
Emerging players
- Americold Realty Trust: Americold is the largest publicly-traded REIT focused on temperature-controlled warehouses, an adjacent industrial real estate subsector that competes for logistics real estate capital and tenants in cold-storage submarkets that overlap with Duke's industrial portfolio.
- PS Business Parks: PS Business Parks owns a portfolio of industrial, flex/office, and office properties; it competes with Duke in select industrial submarkets and serves overlapping tenant segments in logistics-intensive regions.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Duke Realty social profiles
Digital presenceDuke Realty financial estimates
Financial estimateRevenue estimate
Valuation estimate
Duke Realty leadership team
Management profileNumber of profiles
Duke Realty funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Duke Realty M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Duke Realty
What does Duke Realty do?
Duke Realty was a publicly traded real estate investment trust (REIT) that owned, managed, and developed bulk distribution buildings and industrial warehouse facilities across 19 major logistics markets in the United States. The company operated approximately 167 million rentable square feet of industrial assets, generating recurring rental income from long-term commercial leases with logistics and industrial tenants.
Is Duke Realty a public or private company?
Duke Realty is a public company. It is classified as corporate owned and is currently acquired.
When was Duke Realty founded?
Duke Realty was founded in 1972. It employs 501 to 1,000 people.
Where is Duke Realty based?
Duke Realty is headquartered in Indianapolis, United States, in the North America region.
How does Duke Realty make money?
One revenue line is on record: commercial Real Estate Rental Income.
Who are Duke Realty's main competitors?
Prologis is listed as a broad incumbent. Direct peers are STAG Industrial, First Industrial Realty Trust, Liberty Property Trust, EastGroup Properties, Terreno Realty Corporation, DCT Industrial Trust and Rexford Industrial Realty. Emerging players are Americold Realty Trust and PS Business Parks.
Does Duke Realty have an API?
No public API is recorded for Duke Realty.
What industry is Duke Realty in?
Duke Realty's product category is Industrial Real Estate REIT. Its primary akta.pro industry code is FSAAAKAD, REITs & Listed Real Estate Securities. Its NAICS code is 5311 and its SIC code is 6798.