EXHIBIT 12.1

DUKE REALTY CORPORATION

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO

COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

(in thousands, except ratios)

	Six Months Ended June 30, 2013			Year Ended December 31, 2012				Year Ended December 31, 2011				Year Ended December 31, 2010				Year Ended December 31, 2009				Year Ended December 31, 2008
Net income (loss) from continuing operations, less preferred dividends	$	5,139		$	(131,684	)		$	(63,321	)		$	(25,039	)		$	(302,839	)		$	20,027
Preferred dividends	16,905			46,438				60,353				69,468				73,451				71,426
Interest expense	118,945			238,614				214,495				179,863				142,791				132,259
Earnings (loss) before fixed charges	$	140,989		$	153,368			$	211,527			$	224,292			$	(86,597	)		$	223,712
Interest expense	$	118,945		$	238,614			$	214,495			$	179,863			$	142,791			$	132,259
Interest costs capitalized	9,624			9,357				4,335				11,498				26,864				53,456
Total fixed charges	128,569			247,971				218,830				191,361				169,655				185,715
Preferred dividends	16,905			46,438				60,353				69,468				73,451				71,426
Total fixed charges and preferred dividends	$	145,474		$	294,409			$	279,183			$	260,829			$	243,106			$	257,141
Ratio of earnings to fixed charges	1.10			N/A			(2)	N/A			(4)	1.17				N/A			(7)	1.20
Ratio of earnings to fixed charges and preferred dividends	N/A		(1)	N/A			(3)	N/A			(5)	N/A			(6)	N/A			(8)	N/A		(9)

(1) N/A - The ratio is less than 1.0; deficit of $4.5 million exists for the six months ended June 30, 2013. The calculation of earnings includes $194.8 million of non-cash depreciation and amortization expense.

(2) N/A - The ratio is less than 1.0; deficit of $94.6 million exists for the year ended December 31, 2012. The calculation of earnings includes $361.6 million of non-cash depreciation and amortization expense.

(3) N/A - The ratio is less than 1.0; deficit of $141.0 million exists for the year ended December 31, 2012. The calculation of earnings includes $361.6 million of non-cash depreciation and amortization expense.

(4) N/A - The ratio is less than 1.0; deficit of $7.3 million exists for the year ended December 31, 2011. The calculation of earnings includes $315.3 million of non-cash depreciation and amortization expense.

(5) N/A - The ratio is less than 1.0; deficit of $67.7 million exists for the year ended December 31, 2011. The calculation of earnings includes $315.3 million of non-cash depreciation and amortization expense.

(6) N/A - The ratio is less than 1.0; deficit of $36.5 million exists for the year ended December 31, 2010. The calculation of earnings includes $262.4 million of non-cash depreciation and amortization expense.

(7) N/A - The ratio is less than 1.0; deficit of $256.3 million exists for the year ended December 31, 2009. The calculation of earnings includes $232.5 million of non-cash depreciation and amortization expense.

(8) N/A - The ratio is less than 1.0; deficit of $329.7 million exists for the year ended December 31, 2009. The calculation of earnings includes $232.5 million of non-cash depreciation and amortization expense.

(9) N/A - The ratio is less than 1.0; deficit of $33.4 million exists for the year ended December 31, 2008. The calculation of earnings includes $207.4 million of non-cash depreciation and amortization expense.