Exhibit 99.3

DUKE REALTY CORPORATION
REAL ESTATE AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2004	Schedule III
(IN THOUSANDS)

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
ALPHARETTA, GEORGIA
Brookside Office Park	Radiant I	Office		$1,269	$14,749	$6	$1,269	$14,755	$16,024	$2,036	1998	1999
Brookside Office Park	Brookside I	Office		1,625	11,094	2,929	1,625	14,023	15,648	3,452	1999	1999
Brookside Office Park	Radiant II	Office		831	7,327	115	831	7,442	8,273	704	2000	2000
Brookside Office Park	Brookside II	Office		1,381	12,313	1,370	1,381	13,683	15,064	1,834	2000	2001
Hembree Crest	11800 Wills Road	Industrial		304	2,152	380	304	2,532	2,836	455	1987	1999
Hembree Crest	11810 Wills Road	Industrial		296	2,260	139	296	2,399	2,695	387	1987	1999
Hembree Crest	11820 Wills Road	Industrial		488	2,285	883	488	3,168	3,656	432	1987	1999
Hembree Crest	11415 Old Roswell Road	Industrial		648	2,463	1,039	648	3,502	4,150	783	1991	1999
Hembree Park	1750 Founders	Industrial		1,936	7,813	436	1,936	8,249	10,185	2,254	1999	2000
Hembree Park	NMeadow SC II @ Founders	Industrial		1,369	3,646	2,417	1,369	6,063	7,432	571	2001	2001
North Meadow	1350 Northmeadow Parkway	Industrial		672	3,658	260	672	3,918	4,590	700	1994	1999
North Meadow	11835 Alpharetta Highway	Retail		524	2,869	46	524	2,915	3,439	394	1994	1999
Northwinds Pointe	Northwinds VII	Office		2,271	20,070	766	2,271	20,836	23,107	2,913	1998	1999
Northwinds Pointe	Northwinds I	Office		1,866	15,912	-	1,866	15,912	17,778	356	1997	2004
Northwinds Pointe	Northwinds II	Office		1,786	15,934	-	1,786	15,934	17,720	352	1997	2004
Northwinds Pointe	Northwinds III	Office	17,457	1,850	15,813	-	1,850	15,813	17,663	354	1998	2004
Northwinds Pointe	Northwinds IV	Office	16,614	1,833	15,831	-	1,833	15,831	17,664	356	1999	2004
Northwinds Pointe	Northwinds V	Office		2,203	15,511	-	2,203	15,511	17,714	355	1999	2004
Northwinds Pointe	Northwinds VI	Office		2,645	15,352	-	2,645	15,352	17,997	357	2000	2004
Northwinds Pointe	Northwinds Village	Retail		578	4,511	-	578	4,511	5,089	63	2000	2004
Northwinds Pointe	Northwinds Restaurant	Retail		202	329	-	202	329	531	6	1998	2004
Ridgeland	1320 Ridgeland Pkwy	Industrial		998	5,890	37	998	5,927	6,925	805	1999	1999
Ridgeland	Ridgeland Business Dist I	Industrial		488	2,983	447	488	3,430	3,918	883	1999	1999
Ridgeland	Ridgeland Business Dist. II	Industrial		579	2,536	239	579	2,775	3,354	621	1999	2000
Preston Ridge	Preston Ridge IV	Office		2,777	13,081	-	2,777	13,081	15,858	416	2000	2004
Windward	800 North Point Parkway	Office		1,250	18,443	-	1,250	18,443	19,693	870	1991	2003
Windward	900 North Point Parkway	Office		1,250	13,945	-	1,250	13,945	15,195	666	1991	2003
ANTIOCH, TENNESSEE
Jackson Business Center	Keebler	Industrial		307	1,311	20	307	1,331	1,638	315	1985	1995
ARLINGTON HEIGHTS, ILLINOIS
Arlington Business Park	Atrium II	Office		776	7,230	1,345	776	8,575	9,351	1,636	1986	1998
ATLANTA, GEORGIA
Druid Chase	6 W. Druid Hills Drive	Office		473	6,758	2,297	473	9,055	9,528	1,162	1968	1999
Druid Chase	2801 Buford Highway	Office		794	9,905	1,826	794	11,731	12,525	1,832	1977	1999
Druid Chase	1190 W. Druid Hills Drive	Office		689	6,631	1,098	689	7,729	8,418	1,040	1980	1999
Druid Chase	2071 N. Druid Hills Drive	Retail		98	321	-	98	321	419	44	1968	1999
Gwinnett Park	Gwinnett Park Land	Grounds			-	30	30	-	30	5		1999
AURORA, ILLINOIS
Meridian Business Campus	535 Exchange	Industrial		386	930	64	386	994	1,380	170	1984	1999
Meridian Business Campus	515-525 North Enterprise	Industrial		342	1,694	72	342	1,766	2,108	293	1984	1999
Meridian Business Campus	615 Enterprise	Industrial		468	2,831	528	468	3,359	3,827	549	1984	1999
Meridian Business Campus	3615 Exchange	Industrial		410	1,618	59	410	1,677	2,087	293	1986	1999
Meridian Business Campus	4000 Sussex	Industrial		417	1,952	245	417	2,197	2,614	399	1990	1999
Meridian Business Campus	3737 East Exchange	Industrial		598	2,562	57	598	2,619	3,217	440	1985	1999
Meridian Business Campus	444 North Commerce	Industrial		722	5,480	423	722	5,903	6,625	1,017	1985	1999
Meridian Business Campus	Meridian I	Industrial		1,150	6,731	11	1,150	6,742	7,892	1,574	1999	2000
Meridian Business Campus	Meridian II	Industrial		567	1,283	1,701	567	2,984	3,551	148	2001	2001
Meridian Business Campus	Genera Corp	Industrial		970	4,796	-	1,957	3,809	5,766	46	2004	2004
BEACHWOOD, OHIO
Corporate Exchange	One Corporate Exchange	Office	3,487	1,287	8,803	1,088	1,287	9,891	11,178	2,314	1989	1996
Corporate Place	Corporate Place	Office		1,161	7,909	813	1,163	8,720	9,883	1,955	1988	1996
BLOOMINGTON, MINNESOTA
Alpha Buildings	Alpha Business Ctr I&II	Office		280	1,631	302	280	1,933	2,213	372	1980	1999
Alpha Buildings	Alpha Business Ctr III&IV	Industrial		341	2,000	261	341	2,261	2,602	409	1980	1999
Alpha Buildings	Alpha Business Ctr V	Industrial		537	3,125	265	538	3,389	3,927	543	1980	1999
Bloomington Industrial Center	Bloomington Industrial Center	Industrial	1,211	621	3,689	776	621	4,465	5,086	1,187	1963	1997
Hampshire Dist. Center	Hampshire Dist Center North	Industrial	1,881	779	4,511	217	779	4,728	5,507	819	1979	1997
Hampshire Dist. Center	Hampshire Dist Center South	Industrial	2,203	901	5,239	286	901	5,525	6,426	1,072	1979	1997
Hampshire Tech Center	Hampshire Tech Center	Industrial		2,124	13,123	797	2,223	13,821	16,044	2,913	1998	1998
Lyndale Commons	Lyndale Commons I	Industrial		247	1,449	98	247	1,547	1,794	282	1981	1998
Lyndale Commons	Lyndale Commons II	Industrial		181	1,056	273	183	1,327	1,510	336	1985	1998
Norman Center	Norman Center 4	Office		562	3,276	248	579	3,507	4,086	1,552	1967	1998
Norman Center Plaza	Norman Pointe I	Office		3,650	28,380	1,879	3,650	30,259	33,909	3,573	2000	2000

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
BLUE ASH, OHIO
Alliance Woods	McAuley Place	Office		2,331	18,772	1,205	2,331	19,977	22,308	2,162	2000	2001
Cornell Commerce Center	Cornell Commerce Center	Industrial		495	4,841	625	495	5,466	5,961	1,184	1989	1996
Creek Road	Creek Road Bldg 1	Industrial		103	833	65	103	898	1,001	184	1971	1996
Creek Road	Creek Road Bldg 2	Industrial		132	1,164	79	132	1,243	1,375	262	1971	1996
Huntington Bank Building	Huntington Bank Building	Office		175	241	-	175	241	416	49	1986	1996
Lake Forest/Westlake	Lake Forest Place	Office		1,953	20,823	1,904	1,953	22,727	24,680	5,361	1985	1996
Northmark Office Park	Northmark Bldg. 1	Office		1,452	4,903	-	1,452	4,903	6,355	231	1987	2004
Northmark Office Park	Northmark Bldg. 2	Office		1,386	4,133	-	1,386	4,133	5,519	87	1984	2004
Lake Forest/Westlake	Westlake Center	Office		2,459	17,035	2,037	2,459	19,072	21,531	4,270	1981	1996
BOLINGBROOK, ILLINOIS
Bolingbrook	555 Joliet Road	Industrial		2,184	9,319	113	2,184	9,432	11,616	672	1967	2002
BRANDON, FLORIDA
Regency Park North	Regency I	Office		1,048	4,276	846	1,048	5,122	6,170	1,293	2000	2000
Regency Park North	Regency II	Office		1,411	3,722	-	1,411	3,722	5,133	726	2001	2002
BRASELTON, GEORGIA
Braselton	Braselton II	Industrial		1,365	9,570	1,447	1,878	10,504	12,382	850	2001	2001
BRENTWOOD, TENNESSEE
Aspen Grove Business Center	Aspen Grove 4	Industrial		492	2,430	4	492	2,434	2,926	194	2002	2002
Brentwood South Bus. Center	7104 Crossroads Blvd	Industrial		1,065	6,011	653	1,065	6,664	7,729	992	1987	1999
Brentwood South Bus. Center	7106 Crossroads Blvd	Industrial		1,065	2,846	932	1,065	3,778	4,843	546	1987	1999
Brentwood South Bus. Center	7108 Crossroads Blvd	Industrial		848	4,152	520	848	4,672	5,520	697	1989	1999
Creekside Crossing	Creekside Crossing One	Office		1,900	7,676	606	1,901	8,281	10,182	1,722	1997	1998
Creekside Crossing	Creekside Crossing Two	Office		2,087	9,749	631	2,087	10,380	12,467	2,802	1999	2000
BROOKLYN PARK, MINNESOTA
7300 Northland Drive	7300 Northland Drive	Industrial		700	6,119	3	703	6,119	6,822	1,023	1980	1998
Crosstown North	Crosstown North Bus. Ctr. 1	Industrial		835	5,504	1,047	1,286	6,100	7,386	1,176	1998	1999
Crosstown North	Crosstown North Bus. Ctr. 2	Industrial		449	2,979	488	599	3,317	3,916	583	1998	1999
Crosstown North	Crosstown North Bus. Ctr. 3	Industrial		758	2,764	44	837	2,729	3,566	945	1999	1999
Crosstown North	Crosstown North Bus. Ctr. 4	Industrial		2,079	8,199	1,000	2,397	8,881	11,278	2,096	1999	1999
Crosstown North	Crosstown North Bus. Ctr. 5	Industrial		1,079	5,632	356	1,354	5,713	7,067	1,261	1999	2000
Crosstown North	Crosstown North Bus. Ctr. 6	Industrial		788	3,680	1,534	1,031	4,971	6,002	995	2000	2000
CARMEL, INDIANA
Hamilton Crossing	Hamilton Crossing Bldg 1	Industrial		835	4,952	2,374	847	7,314	8,161	1,907	1989	1993
Hamilton Crossing	Hamilton Crossing Bldg 2	Office		313	1,430	831	384	2,190	2,574	724	1997	1997
Hamilton Crossing	Hamilton Crossing Bldg 3	Office		890	10,151	1,270	890	11,421	12,311	1,987	2000	2000
Hamilton Crossing	Hamilton Crossing Bldg 4	Office		515	5,616	67	598	5,600	6,198	1,102	1999	1999
Hamilton Crossing	Hamilton Crossing Bldg 6	Office		1,044	14,307	-	1,044	14,307	15,351	432	2003	2003
Meridian Technology Center	Meridian Tech Center	Office		600	2,719	887	600	3,606	4,206	232	1986	2002
CAROL STREAM, ILLINOIS
Carol Stream Business Park	Carol Stream #4	Industrial		1,973	13,835	-	3,197	12,611	15,808	395	1994	2003
Carol Stream Business Park	Carol Stream #5	Industrial		4,553	7,317	-	4,553	7,317	11,870	280	1986	2003
CARY, NORTH CAROLINA
Regency Forest	200 Regency Forest Dr.	Office		1,230	13,535	1,103	1,230	14,638	15,868	1,988	1999	1999
Regency Forest	100 Regency Forest Dr.	Office		1,538	10,788	1,598	1,618	12,306	13,924	2,322	1997	1999
Weston Parkway	6501 Weston Parkway	Office		1,775	10,700	225	1,775	10,925	12,700	1,518	1996	1999
CELEBRATION, FLORIDA
Celebration Business Center	Celebration Business Center I	Office		1,102	4,859	261	1,308	4,914	6,222	714	1997	1999
Celebration Business Center	Celebration Business Center II	Office		771	3,590	153	961	3,553	4,514	524	1997	1999
Celebration Business Center	Celebration Office Center I	Office		1,382	7,957	83	1,382	8,040	9,422	1,904	2000	2000
Celebration Business Center	Celebration Office Center II	Office		1,382	6,272	777	1,382	7,049	8,431	813	2001	2001
CHANHASSEN, MINNESOTA
Chanhassen Lakes	Chanhassen Lakes I	Industrial		357	2,084	884	370	2,955	3,325	769	1983	1998
Chanhassen Lakes	Chanhassen Lakes II	Industrial		438	2,542	585	453	3,112	3,565	569	1986	1998
CHAPEL HILL, NORTH CAROLINA
Governors Village	Governors Village - Office	Office		515	5,669	107	515	5,776	6,291	632	2000	2001
CINCINNATI, OHIO
312 Elm	312 Elm	Office	36,994	4,750	47,436	3,858	5,428	50,616	56,044	14,064	1992	1993
312 Plum	312 Plum	Office		2,539	24,934	2,538	2,590	27,421	30,011	7,938	1987	1993
Bank One Towers	Towers of Kenwood	Office		4,891	41,022	-	4,891	41,022	45,913	1,694	1989	2003

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
Blue Ash Office Center	Blue Ash Office Ctr VI	Office		518	2,861	339	518	3,200	3,718	627	1989	1997
Executive Plaza	Executive Plaza I	Office		728	5,571	520	728	6,091	6,819	1,347	1980	1996
Executive Plaza	Executive Plaza II	Office		728	5,661	932	728	6,593	7,321	1,269	1981	1996
Executive Plaza	Executive Plaza III	Office		509	5,060	618	509	5,678	6,187	1,168	1998	1998
Governors Hill	8790 Governor’s Hill	Office		400	4,805	769	408	5,566	5,974	1,553	1985	1993
Governors Hill	8800 Governor’s Hill	Office		225	2,319	41	231	2,354	2,585	1,075	1985	1986
Governors Hill	8600 Governor’s Hill	Office		1,220	19,041	3,468	1,245	22,484	23,729	5,988	1986	1993
Iams Industrial Park	Cincinnati Bell Supply	Industrial		606	3,266	2	606	3,268	3,874	393	1999	2000
Kenwood Commons	8230 Kenwood Commons	Office	3,980	638	3,189	602	638	3,791	4,429	2,239	1986	1986
Kenwood Commons	8280 Kenwood Commons	Office	2,420	638	1,740	326	638	2,066	2,704	1,029	1986	1986
Kenwood Executive Center	Kenwood Executive Center	Office		606	4,072	674	664	4,688	5,352	818	1981	1997
Kenwood MOB	Kenwood MOB	Office			7,852	47	-	7,899	7,899	1,110	1994	1999
One Ashview Place	One Ashview Place	Office		1,204	12,674	2,786	1,204	15,460	16,664	3,043	1989	1997
Pfeiffer Place	Pfeiffer Place	Office		3,608	15,049	1,057	3,608	16,106	19,714	2,112	2001	2001
Pfeiffer Woods	Pfeiffer Woods	Office		1,450	12,405	399	1,450	12,804	14,254	1,713	1998	1999
Remington Office Park	Remington Park Bldg A	Office		560	1,472	478	560	1,950	2,510	301	1982	1997
Remington Office Park	Remington Park Bldg B	Office		560	1,587	464	560	2,051	2,611	442	1982	1997
Triangle Office Park	Triangle Office Park	Office	4,425	1,018	11,511	386	1,018	11,897	12,915	5,334	1965	1986
World Park	World Park Bldg 5	Industrial		270	3,413	135	371	3,447	3,818	1,373	1987	1988
World Park	World Park Bldg 6	Industrial		378	3,876	239	480	4,013	4,493	1,638	1987	1988
World Park	World Park Bldg 7	Industrial		525	4,558	154	537	4,700	5,237	1,834	1987	1988
Zussman Building	Zussman Bldg	Office		339	6,911	926	346	7,830	8,176	3,572	1986	1993
CLAYTON, MISSOURI
Clayton	Interco Corporate Tower	Office		6,150	39,591	672	6,150	40,263	46,413	2,436	1986	2002
COLUMBUS, OHIO
Easton	Easton Way One	Office		1,874	10,461	427	1,874	10,888	12,762	2,211	2000	2000
Easton	Easton Way Two	Office		2,005	10,392	686	2,005	11,078	13,083	1,670	2001	2001
Easton	Easton Way Three	Office		2,640	10,670	-	2,640	10,670	13,310	414	2002	2003
Easton	One Easton Oval	Office		2,789	11,472	325	2,789	11,797	14,586	2,978	1998	1999
Easton	Two Easton Oval	Office		2,489	16,944	1,078	2,489	18,022	20,511	3,001	1996	1998
Polaris	1000 Polaris Parkway	Office		1,200	6,659	1,463	1,293	8,029	9,322	1,544	1992	1999
Westbelt Drive	2190-2200 Westbelt Drive	Industrial		300	1,981	140	300	2,121	2,421	342	1986	1998
Westbelt West	Westbelt West #1	Industrial		432	4,215	872	432	5,087	5,519	1,273	1999	1999
Westbelt West	Westbelt West #2	Industrial		509	5,264	408	509	5,672	6,181	1,001	1999	2000
Zane Trace	3800 Zane Trace Drive	Industrial		170	2,122	714	170	2,836	3,006	597	1978	1994
Zane Trace	3635 Zane Trace Drive	Industrial		236	1,828	566	236	2,394	2,630	332	1980	1998
COPPELL, TEXAS
Freeport North	Freeport X	Industrial		8,198	19,931	-	8,198	19,931	28,129	840	2003	2003
CREVE COUER, MISSOURI
Twin Oaks Office Ctr	Twin Oaks	Office		566	8,333	1,379	566	9,712	10,278	1,813	1995	1997
CRYSTAL, MINNESOTA
Crystal Industrial Center	Crystal Industrial Center	Industrial		456	2,629	390	480	2,995	3,475	754	1974	1997
DAVENPORT, FLORIDA
FL Central Park North	Park 27 Distribution Center	Industrial		2,449	6,100	8	2,449	6,108	8,557	460	2002	2002
DES PLAINES, ILLINOIS
105 East Oakton	105 East Oakton	Industrial		1,132	4,306	379	1,132	4,685	5,817	892	1974	1999
Deckbrand Building	Wolf Road Building	Industrial		179	1,642	362	179	2,004	2,183	339	1966	1998
DOWNERS GROVE, ILLINOIS
Executive Towers	Executive Towers I	Office		2,652	24,578	3,486	2,652	28,064	30,716	5,393	1983	1997
Executive Towers	Executive Towers II	Office		3,386	31,968	7,128	3,386	39,096	42,482	8,908	1984	1997
Executive Towers	Executive Towers III	Office		3,512	33,016	6,344	3,512	39,360	42,872	7,073	1987	1997
DUBLIN, OHIO
Scioto Corporate Center	Scioto Corporate Center	Office		1,100	3,381	946	1,100	4,327	5,427	1,079	1987	1996
Tuttle Crossing	Metrocenter III	Office		887	3,015	739	887	3,754	4,641	736	1983	1996
Tuttle Crossing	Qwest (LCI)	Office		2,618	19,087	1,053	2,670	20,088	22,758	5,678	1990	1993
Tuttle Crossing	Sterling 1	Office		1,494	12,963	430	1,524	13,363	14,887	3,677	1990	1993
Tuttle Crossing	4700 Lakehurst Ct.	Office		717	2,495	108	717	2,603	3,320	654	1994	1994
Tuttle Crossing	Sterling 2	Office		605	5,935	89	605	6,024	6,629	1,432	1995	1995
Tuttle Crossing	5500 Glendon Court	Office		1,066	7,767	837	1,066	8,604	9,670	1,974	1995	1995
Tuttle Crossing	5555 Glendon Court	Office		1,600	10,984	830	1,767	11,647	13,414	5,241	1995	1995
Tuttle Crossing	Sterling 3	Office		1,601	8,815	72	1,601	8,887	10,488	2,963	1996	1996
Tuttle Crossing	Compmanagement	Office		867	4,471	545	867	5,016	5,883	1,186	1997	1997
Tuttle Crossing	Sterling 4	Office		483	9,456	892	483	10,348	10,831	2,378	1998	1998

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
Tuttle Crossing	Xerox Bldg-5555 Parkcenter Cir	Office		1,580	9,437	671	1,580	10,108	11,688	2,811	1992	1994
Tuttle Crossing	Parkwood Place	Office		1,690	11,714	893	1,690	12,607	14,297	3,300	1997	1997
Tuttle Crossing	Nationwide	Office		4,815	19,459	212	4,815	19,671	24,486	6,432	1996	1996
Tuttle Crossing	Emerald II	Office		495	2,863	22	495	2,885	3,380	456	1998	1998
Tuttle Crossing	Atrium II, Phase I	Office		1,649	10,143	391	1,649	10,534	12,183	2,204	1997	1998
Tuttle Crossing	Atrium II, Phase II	Office		1,597	7,993	1,077	1,597	9,070	10,667	1,502	1998	1999
Tuttle Crossing	Blazer I	Office		904	4,517	603	904	5,120	6,024	934	1999	1999
Tuttle Crossing	Parkwood II	Office		1,848	14,160	57	1,848	14,217	16,065	2,815	2000	2000
Tuttle Crossing	Blazer II	Office		1,016	6,969	294	1,016	7,263	8,279	1,391	2000	2000
Tuttle Crossing	Emerald III	Office		1,685	9,954	156	1,694	10,101	11,795	1,458	2001	2001
DULUTH, GEORGIA
Breckinridge	2825 Breckinridge Blvd	Industrial		317	3,634	96	317	3,730	4,047	520	1986	1999
Breckinridge	2875 Breckinridge Blvd	Industrial		476	4,809	34	476	4,843	5,319	659	1986	1999
Breckinridge	2885 Breckinridge Blvd	Industrial		487	6,910	561	487	7,471	7,958	1,343	1997	1999
Business Park At Sugarloaf	2775 Premiere Parkway	Industrial		560	4,709	23	560	4,732	5,292	648	1997	1999
Business Park At Sugarloaf	3079 Premiere Parkway	Industrial		776	6,538	1,084	776	7,622	8,398	1,062	1998	1999
Business Park At Sugarloaf	Sugarloaf Office I	Industrial		1,042	8,650	729	1,042	9,379	10,421	1,364	1998	1999
Business Park At Sugarloaf	Sugarloaf Office II	Industrial		972	4,088	81	1,006	4,135	5,141	243	1999	2002
Business Park At Sugarloaf	Sugarloaf Office III	Industrial		696	3,793	121	696	3,914	4,610	226	1999	2002
Business Park At Sugarloaf	Sugarloaf Office IV	Industrial		623	3,960	9	623	3,969	4,592	1,123	2000	2000
Business Park At Sugarloaf	Sugarloaf Office V	Industrial		744	4,006	406	744	4,412	5,156	1,046	2001	2001
Business Park At Sugarloaf	2850 Premiere Parkway	Industrial		621	4,621	10	621	4,631	5,252	252	1997	2002
Business Park At Sugarloaf	2855 Premiere Parkway	Industrial		765	4,006	186	765	4,192	4,957	772	1999	1999
Business Park At Sugarloaf	6655 Sugarloaf	Industrial		1,651	6,505	4	1,651	6,509	8,160	498	1998	2001
Crestwood Pointe	3805 Crestwood Parkway	Office		877	15,197	1,237	877	16,434	17,311	2,393	1997	1999
Crestwood Pointe	3885 Crestwood Parkway	Office		878	14,187	502	878	14,689	15,567	2,120	1998	1999
Hampton Green	Hampton Green Off I	Office		1,388	12,451	411	1,388	12,862	14,250	1,799	2000	2000
River Green	3450 River Green Court	Industrial		194	2,197	195	194	2,392	2,586	451	1989	1999
EAGAN, MINNESOTA
Apollo Distribution Center	Apollo Industrial Ctr I	Industrial		866	5,009	1,341	882	6,334	7,216	1,228	1997	1997
Apollo Distribution Center	Apollo Industrial Ctr II	Industrial		474	3,171	7	474	3,178	3,652	799	2000	2000
Apollo Distribution Center	Apollo Industrial Ctr III	Industrial		1,432	6,966	-	1,432	6,966	8,398	951	2000	2000
Eagandale Crossing	Eagandale Crossing	Industrial		974	4,567	92	987	4,646	5,633	2,055	1998	1998
Eagandale Tech Center	Eagandale Tech Center	Industrial		987	5,744	542	997	6,276	7,273	1,282	1998	1998
Outside of a Development Park	Lunar Pointe	Industrial		982	4,477	517	982	4,994	5,976	214	2001	2001
Silverbell Commons	Silverbell Commons	Industrial		1,807	6,851	673	1,807	7,524	9,331	1,351	1999	1999
Trapp Road	Trapp Road Commerce I	Industrial		671	3,919	274	700	4,164	4,864	675	1996	1998
Trapp Road	Trapp Road Commerce II	Industrial		1,250	7,050	357	1,266	7,391	8,657	1,342	1998	1998
EARTH CITY, MISSOURI
Earth City	3322 NGIC	Office	5,852	2,615	10,927	873	2,615	11,800	14,415	2,187	1987	1997
Earth City	3300 Pointe 70	Office	4,103	1,186	7,661	1,136	1,186	8,797	9,983	1,656	1989	1997
Earth City	Corporate Center, Earth City	Industrial		783	4,570	727	783	5,297	6,080	1,429	2000	2000
EAST POINTE, GEORGIA
Camp Creek	Camp Creek Bldg 1400	Industrial		561	3,440	435	561	3,875	4,436	492	1988	2001
Camp Creek	Camp Creek Bldg 1800	Industrial		462	3,048	6	462	3,054	3,516	487	1989	2001
Camp Creek	Camp Creek Bldg 2000	Industrial		395	2,312	16	395	2,328	2,723	232	1989	2001
Camp Creek	Camp Creek Bldg 2400	Industrial		296	1,865	51	296	1,916	2,212	279	1988	2001
Camp Creek	Camp Creek Bldg 2600	Industrial		364	2,367	26	364	2,393	2,757	341	1990	2001
Camp Creek	Clorox Company	Industrial		4,406	9,600	-	4,406	9,600	14,006	230	2003	2003
EDEN PRAIRIE, MINNESOTA
Edenvale Executive Center	Edenvale Executive Center	Industrial		1,184	6,786	929	1,185	7,714	8,899	1,243	1987	1999
Golden Triangle Tech Center	Golden Triangle Tech Ctr	Industrial		1,446	8,324	379	1,458	8,691	10,149	1,404	1997	1998
Valley Gate/Green	Valley Gate North	Industrial		548	3,158	596	556	3,746	4,302	805	1986	1999
EDINA, MINNESOTA
Edina Interchange	Edina Interchange I	Industrial	1,316	630	3,673	451	630	4,124	4,754	880	1995	1997
Edina Interchange	Edina Interchange II	Industrial	841	432	2,523	75	432	2,598	3,030	474	1980	1997
Edina Interchange	Edina Interchange III	Industrial	945	487	2,844	70	487	2,914	3,401	538	1981	1997
FAIRFIELD, OHIO
Fairfield Business Center	Fairfield Bus. Ctr. D	Industrial		135	1,757	154	135	1,911	2,046	486	1990	1995
Fairfield Business Center	Fairfield Bus. Ctr. E	Industrial		398	2,612	61	398	2,673	3,071	587	1990	1995
University Moving	Thunderbird Bldg 1	Industrial		248	1,769	147	248	1,916	2,164	491	1991	1995
FENTON, MISSOURI
Fenton Interstate Buildings	Fenton Interstate Building C	Industrial		519	1,993	303	519	2,296	2,815	347	1986	1999
Fenton Interstate Buildings	Fenton Interstate Building D	Industrial		1,286	5,207	175	1,286	5,382	6,668	810	1987	1999

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
Fenton Interstate Buildings	Fenton Industrial Bldg A	Industrial		603	2,641	23	603	2,664	3,267	403	1987	2000
Fenton Interstate Buildings	Fenton Industrial Bldg B	Industrial		702	2,345	98	702	2,443	3,145	315	1986	2000
Southport	Southport Commerce Ctr	Industrial		233	1,026	137	233	1,163	1,396	201	1978	1997
FISHERS, INDIANA
Exit 5	Exit 5 Bldg I	Industrial		822	2,728	101	822	2,829	3,651	504	1999	1999
Exit 5	Exit 5 Bldg. II	Industrial		749	4,673	162	749	4,835	5,584	1,208	1999	2000
FRANKLIN, TENNESSEE
Aspen Grove Business Center	277 Mallory Station	Industrial		936	6,556	2,497	936	9,053	9,989	1,141	1996	1999
Aspen Grove Business Center	320 Premier Court	Industrial		1,151	6,539	379	1,151	6,918	8,069	974	1996	1999
Aspen Grove Business Center	305 Seaboard Lane	Industrial		970	5,680	566	970	6,246	7,216	1,297	1998	1999
Aspen Grove Business Center	416 Mary Lindsay Polk Dr	Industrial		943	5,304	754	943	6,058	7,001	1,022	1996	1999
Aspen Grove Business Center	318 Seaboard Lane Bldg 200	Industrial		240	1,390	147	240	1,537	1,777	121	1999	1999
Aspen Grove Business Center	341 Cool Springs Blvd	Office		950	7,559	1,707	950	9,266	10,216	1,972	1999	1999
Aspen Grove Business Center	318 Seaboard Lane Bldg 100	Industrial		301	1,684	553	301	2,237	2,538	613	1999	1999
Aspen Grove Business Center	Aspen Grove Flex Ctr III	Industrial		327	2,050	804	327	2,854	3,181	289	2001	2001
Aspen Grove Business Center	Aspen Grove Flex Ctr IV	Industrial		205	1,545	148	205	1,693	1,898	405	2001	2001
Aspen Grove Business Center	Aspen Corporate Center 100	Office		723	2,179	-	723	2,179	2,902	-	2004	2004
Brentwood South Bus. Center	119 Seaboard Lane	Industrial		569	2,442	96	569	2,538	3,107	337	1990	1999
Brentwood South Bus. Center	121 Seaboard Lane	Industrial		445	1,936	50	445	1,986	2,431	265	1990	1999
Brentwood South Bus. Center	123 Seaboard Lane	Industrial		489	1,248	450	489	1,698	2,187	225	1990	1999
FRIDLEY, MINNESOTA
River Road	River Road Business Ctr. S.	Industrial	3,315	1,083	6,426	483	1,112	6,880	7,992	1,157	1986	1999
FT. LAUDERDALE, FLORIDA
Beacon Pointe At Weston	Beacon Pointe@Weston Bldg 2	Office		2,183	10,785	-	2,183	10,785	12,968	638	2001	2003
Beacon Pointe At Weston	Beacon Pointe@Weston Bldg 3	Office		2,183	11,507	-	2,183	11,507	13,690	457	2001	2003
Beacon Pointe At Weston	Beacon Pointe@Weston Bldg 1	Office		2,580	10,001	-	2,580	10,001	12,581	432	1999	2003
GLENWILLOW, OHIO
Emerald Valley	Emerald Valley Bldg 1, 201	Industrial		555	6,477	131	556	6,607	7,163	881	1999	1999
Emerald Valley	Emerald Valley Bldg 2, 144	Industrial		519	5,070	729	519	5,799	6,318	387	2001	2002
Emerald Valley	Emerald Valley 3, 144 W	Industrial		1,593	3,409	-	1,593	3,409	5,002	70	2003	2003
Emerald Valley	Emerald Valley Building 4	Industrial		1,357	3,486	-	1,357	3,486	4,843	38	2004	2004
GOLDEN VALLEY, MINNESOTA
Golden Hills	Golden Hills 1	Industrial		1,081	6,317	454	1,105	6,747	7,852	1,174	1996	1998
Golden Hills	Golden Hills 2	Industrial		1,741	4,366	355	1,742	4,720	6,462	1,333	1999	1999
Golden Hills	Golden Hills 3	Industrial		1,813	4,910	395	1,815	5,303	7,118	1,647	1999	1999
Outside of a Development Park	5075 Building	Office		506	2,393	365	539	2,725	3,264	1,206	1965	1998
Sandburg Industrial Center	Sandburg Industrial Center	Industrial		451	2,629	552	451	3,181	3,632	732	1973	1997
GREENWOOD, INDIANA
South Park-Indiana	Brylane Parking Lot	Grounds		54	-	3	57	-	57	30		1994
GROVE CITY, OHIO
South Pointe	South Pointe Bldg D	Industrial		276	3,212	250	276	3,462	3,738	785	1997	1997
South Pointe	South Pointe Bldg E	Industrial		279	2,482	572	279	3,054	3,333	788	1997	1997
GROVEPORT, OHIO
6600 Port Road	6600 Port Road	Industrial		2,725	23,709	1,137	2,850	24,721	27,571	4,682	1995	1997
Groveport Commerce Ctr	Groveport Comm Ctr #2	Industrial		1,049	7,657	1,187	1,065	8,828	9,893	1,560	1999	1999
Groveport Commerce Ctr	Groveport Comm Ctr #3	Industrial		510	3,910	899	510	4,809	5,319	698	1999	2000
Groveport Commerce Ctr	Groveport Commerce Ctr. #345	Industrial		1,045	7,402	577	1,045	7,979	9,024	1,183	2000	2000
Groveport Commerce Ctr	Groveport CC Common Area	N/A		-	-	45	-	45	45	-		1999
HEBRON, KENTUCKY
KY, Southpark	Ky. Southpark Bldg 4	Industrial		779	3,395	51	779	3,446	4,225	898	1994	1994
KY, Southpark	CR Services	Industrial		1,085	4,259	1,291	1,085	5,550	6,635	1,393	1994	1994
HIGHLAND HILLS, OHIO
Metropolitan Plaza	Metropolitan Plaza	Office		2,310	14,044	-	2,310	14,044	16,354	429	2000	2003
HIGHLAND HEIGHTS, OHIO
Highland Park	5335 Avion Park Drive	Industrial		606	2,548	167	606	2,715	3,321	210	1994	2002
HIGHLAND HILLS, OHIO
Harvard Road	20800 Harvard Road	Office		660	6,814	-	660	6,814	7,474	59	1999	2004

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
HOPKINS, MINNESOTA
Cornerstone Business Center	Cornerstone Business Center	Industrial	5,462	1,469	8,512	410	1,543	8,848	10,391	1,608	1996	1997
Westside Business Park	Westside Business Park	Industrial		1,170	6,899	1,357	1,170	8,256	9,426	1,682	1987	1997
INDEPENDENCE, OHIO
6111 Oak Tree	Oak Tree Place	Office		703	4,708	504	703	5,212	5,915	918	1979	1997
Corporate Plaza	Corporate Plaza I	Office	5,578	2,116	14,248	761	2,116	15,009	17,125	3,304	1989	1996
Corporate Plaza	Corporate Plaza II	Office	4,622	1,841	12,428	973	1,841	13,401	15,242	3,133	1991	1996
Freedom Square	Freedom Square I	Office		595	4,020	305	600	4,320	4,920	934	1980	1996
Freedom Square	Freedom Square II	Office	4,339	1,746	11,847	605	1,746	12,452	14,198	2,801	1987	1996
Freedom Square	Freedom Square III	Office		701	6,412	39	701	6,451	7,152	1,505	1997	1997
Park Center	Park Center Bldg I	Office		2,193	12,943	639	2,193	13,582	15,775	3,042	1998	1998
Park Center	Park Center Bldg II	Office		2,190	12,957	462	2,190	13,419	15,609	2,733	1999	1999
Park Center	Park Center Bldg III	Office		2,190	12,975	2,256	2,190	15,231	17,421	2,710	2000	2000
INDIANAPOLIS, INDIANA
Franklin Road Business Park	Franklin Road Bus. Ctr.	Industrial		594	10,803	744	594	11,547	12,141	3,101	1962	1995
Hillsdale	Hillsdale Bldg 4	Industrial		366	5,173	679	366	5,852	6,218	1,578	1987	1993
Hillsdale	Hillsdale Bldg 5	Industrial		251	3,265	600	251	3,865	4,116	1,153	1987	1993
Hillsdale	Hillsdale Bldg 6	Industrial		315	4,348	1,661	315	6,009	6,324	1,701	1987	1993
KATC - South	8465 Keystone Crossing	Office		89	1,397	320	89	1,717	1,806	447	1983	1995
Keystone Crossing	8555 Keystone Crossing	Office		-	6,074	591	-	6,665	6,665	1,249	1985	1997
Nampac Building	6061 Guion Rd	Industrial		274	1,822	165	274	1,987	2,261	452	1974	1995
Outside of a Development Park	4750 Kentucky Avenue	Industrial		246	2,392	220	246	2,612	2,858	531	1974	1996
Not Applicable	River Road Bldg I	Office		856	7,800	1,062	856	8,862	9,718	2,038	1997	1998
Outside of a Development Park	4316 West Minnesota	Industrial		287	2,291	295	287	2,586	2,873	526	1970	1996
One North Capital	One North Capitol	Office		1,439	9,748	155	1,439	9,903	11,342	1,684	1980	1998
Park 100	Park 100 Bldg 96	Industrial		1,414	13,948	-	1,667	13,695	15,362	3,397	1994	1995
Park 100	Park 100 Bldg 98	Industrial		273	8,380	1,785	273	10,165	10,438	2,334	1968	1994
Park 100	Park 100 Bldg 100	Industrial		103	2,494	534	103	3,028	3,131	934	1995	1995
Park 100	Park 100 Bldg 107	Industrial		99	1,721	112	99	1,833	1,932	423	1984	1995
Park 100	Park 100 Bldg 109	Industrial		240	1,856	70	246	1,920	2,166	801	1985	1986
Park 100	Park 100 Bldg 116	Office		341	3,233	198	348	3,424	3,772	1,284	1988	1988
Park 100	Park 100 Bldg 118	Office		226	2,443	401	230	2,840	3,070	791	1988	1993
Park 100	Park 100 Bldg 119	Office		388	3,757	1,326	500	4,971	5,471	1,512	1989	1993
Park 100	Park 100 Bldg 122	Industrial		284	3,783	348	290	4,125	4,415	1,148	1990	1993
Park 100	Park 100 Building 124	Office		227	2,771	8	227	2,779	3,006	294	1992	2002
Park 100	Park 100 Bldg 127	Industrial		96	1,956	302	96	2,258	2,354	696	1995	1995
Park 100	UPS Parking	Grounds		270	-	-	270	-	270	61		1997
Park 100	Norgate Ground Lease	Grounds		51	-	-	51	-	51	-		1995
Park 100	Zollman Ground Lease	Grounds		115	-	-	115	-	115	-		1994
Park 100	Bldg 111 Parking Lot	Grounds		196	-	-	196	-	196	-		1994
Park 100	Becton Dickinson Lot	Grounds		-	-	13	13	-	13	6		1993
Park 100	3.58 acres on Allison Avenue	Grounds		242	-	-	242	-	242	-		2000
Park 100	Hewlett-Packard Land Lease	Grounds		252	-	-	252	-	252	-		2003
Park 100	Park 100 Bldg 121 Land Lease	Grounds		5	-	-	5	-	5	-		2003
Park 100	Hewlett Packard Land Lse-62	Grounds		45	-	-	45	-	45	-		2003
Park Fletcher	Park Fletcher Bldg 14	Industrial		76	740	161	76	901	977	196	1978	1996
Parkwood Crossing	One Parkwood	Office		1,018	10,282	632	1,028	10,904	11,932	2,480	1989	1995
Parkwood Crossing	Two Parkwood	Office		861	7,704	800	871	8,494	9,365	2,449	1996	1996
Parkwood Crossing	Three Parkwood	Office		1,377	9,857	178	1,387	10,025	11,412	2,588	1997	1997
Parkwood Crossing	Four Parkwood	Office		1,489	11,280	632	1,537	11,864	13,401	1,930	1998	1998
Parkwood Crossing	Five Parkwood	Office		1,485	13,739	47	1,528	13,743	15,271	3,248	1999	1999
Parkwood Crossing	Six Parkwood	Office		1,960	15,828	483	1,960	16,311	18,271	2,733	2000	2000
Parkwood Crossing	Eight Parkwood	Office		6,435	14,829	70	6,435	14,899	21,334	885	2002	2002
Woodfield	Two Woodfield Crossing	Office		719	9,553	1,791	733	11,330	12,063	3,131	1987	1993
Woodfield	Three Woodfield Crossing	Office		3,767	21,404	3,644	3,843	24,972	28,815	7,269	1989	1993
Woodland Corporate Park	Woodland Corporate Park I	Office		290	4,666	644	320	5,280	5,600	1,475	1998	1998
Woodland Corporate Park	Woodland Corporate Park II	Office		271	3,673	782	297	4,429	4,726	857	1999	1999
Woodland Corporate Park	Woodland Corporate Park III	Office		1,227	4,480	72	1,227	4,552	5,779	921	1999	2000
Woodland Corporate Park	Woodland Corporate Park IV	Office		715	7,340	438	715	7,778	8,493	1,267	2000	2000
Woodland Corporate Park	Woodland Corporate Park V	Office		768	10,002	31	768	10,033	10,801	657	2002	2002
KENNESAW, GEORGIA
Town Point	3391 Town Point Drive	Office		797	8,508	614	797	9,122	9,919	1,792	1999	1999
LAKE FOREST, ILLINOIS
Bradley Business Center	Ballard Drive Building	Industrial		186	1,770	328	186	2,098	2,284	335	1985	1998
Bradley Business Center	Laurel Drive Building	Industrial		98	913	52	98	965	1,063	164	1981	1998
Bradley Business Center	13825 W. Laurel Dr.	Industrial		750	1,900	862	750	2,762	3,512	585	1978	1999
Conway Park	One Conway Park	Office		1,901	18,441	951	1,901	19,392	21,293	3,766	1989	1998

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
LAKE MARY, FLORIDA
Northpoint	Northpoint Center I	Office		1,087	11,546	79	1,087	11,625	12,712	1,186	1998	1999
Northpoint	Northpoint Center II	Office		1,202	9,693	387	1,202	10,080	11,282	1,248	1999	2000
Northpoint	Northpoint III	Office		1,552	11,087	26	1,552	11,113	12,665	1,394	2001	2001
Northpoint	Northpoint IV	Office		1,605	8,590	1,477	1,605	10,067	11,672	366	2002	2002
Technology Park	Technology Park I	Industrial		640	3,531	172	640	3,703	4,343	567	1986	1999
Technology Park	Technology Park II	Industrial		835	4,318	354	835	4,672	5,507	656	1998	1999
Technology Park	Technology Park III	Industrial		477	3,859	83	477	3,942	4,419	528	1998	1999
Technology Park	Technology Park IV	Industrial		669	2,945	297	669	3,242	3,911	595	1999	1999
Technology Park	Technology Park V	Industrial		547	2,907	210	547	3,117	3,664	387	1999	1999
LAKELAND, FLORIDA
Lakeland Interstate Park	Lakeland Interstate Park I	Industrial		864	4,267	586	864	4,853	5,717	429	2001	2001
LAWRENCEVILLE, GEORGIA
Hillside at Huntcrest	Huntcrest I	Office		1,193	11,047	28	1,193	11,075	12,268	1,352	2000	2001
Hillside at Huntcrest	Huntcrest II	Office		927	11,606	16	927	11,622	12,549	1,819	2000	2001
Hillside at Huntcrest	Huntcrest III	Office		1,358	12,997	238	1,358	13,235	14,593	1,076	2001	2002
Hillside at Huntcrest	Huntcrest IV	Office		1,306	6,005	-	1,306	6,005	7,311	126	2003	2003
Other Northeast I85 Properties	Weyerhaeuser	Industrial		3,974	2,840	-	3,974	2,840	6,814	-	2004	2004
LEBANON, INDIANA
Lebanon Bus. Park	Lebanon Building 4	Industrial		305	9,767	89	305	9,856	10,161	1,924	1997	1997
Lebanon Bus. Park	Lebanon Building 9	Industrial		554	6,974	667	554	7,641	8,195	1,107	1999	1999
Lebanon Bus. Park	Lebanon Building 11	Industrial		480	5,208	-	1,286	4,402	5,688	292	2003	2003
Lebanon Bus. Park	Lebanon Bldg 13	Industrial		561	6,554	-	1,901	5,214	7,115	325	2003	2003
Lebanon Bus. Park	Lebanon Bldg 12	Industrial		5,163	13,207	4	5,163	13,211	18,374	669	2002	2002
LEWIS CENTER, OHIO
Orange Point Commerce Park	Orange Point #73	Industrial		551	3,281	499	551	3,780	4,331	530	2001	2001
Orange Point Commerce Park	Orange Point 144	Industrial		886	4,990	81	886	5,071	5,957	751	2001	2001
LISLE, ILLINOIS
Corporate Lakes Business Park	2275 Cabot Drive	Office		3,355	6,263	-	3,355	6,263	9,618	108	1996	2004
MARIETTA, GEORGIA
Franklin Forest	805 Franklin Court	Industrial		313	1,937	158	313	2,095	2,408	274	1983	1999
Franklin Forest	810 Franklin Court	Industrial		255	1,658	50	255	1,708	1,963	232	1983	1999
Franklin Forest	811 Livingston Court	Industrial		193	1,428	263	193	1,691	1,884	310	1983	1999
Franklin Forest	825 Franklin Court	Industrial		358	562	1,034	358	1,596	1,954	212	1983	1999
Franklin Forest	830 Franklin Court	Industrial		133	759	90	133	849	982	108	1983	1999
Franklin Forest	835 Franklin Court	Industrial		393	637	980	393	1,617	2,010	214	1983	1999
Franklin Forest	840 Franklin Court	Industrial		242	893	603	242	1,496	1,738	132	1983	1999
Franklin Forest	821 Livingston Court	Industrial		145	975	101	145	1,076	1,221	169	1983	1999
Franklin Forest	841 Livingston Court	Industrial		275	2,736	7	275	2,743	3,018	374	1983	1999
Northwest Business Center	1335 Capital Circle	Industrial		416	2,112	161	416	2,273	2,689	318	1985	1999
Northwest Business Center	1337-41-51 Capital Circle	Industrial		558	5,364	1,114	558	6,478	7,036	1,050	1985	1999
Northwest Business Center	2260 Northwest Parkway	Industrial		320	1,826	751	320	2,577	2,897	419	1982	1999
Northwest Business Center	2252 Northwest Parkway	Industrial		92	982	84	92	1,066	1,158	168	1982	1999
Northwest Business Center	2242 Northwest Parkway	Industrial		175	1,444	140	175	1,584	1,759	233	1982	1999
Northwest Business Center	2256 Northwest Parkway	Industrial		85	916	75	85	991	1,076	133	1982	1999
Northwest Business Center	2244 Northwest Parkway	Industrial		47	492	8	47	500	547	68	1982	1999
Northwest Business Center	2150 Northwest Parkway	Industrial		294	3,087	468	294	3,555	3,849	488	1982	1999
Northwest Business Center	2152 Northwest Parkway	Industrial		161	1,637	187	161	1,824	1,985	256	1982	1999
Northwest Business Center	2130 Northwest Parkway	Industrial		353	2,885	429	353	3,314	3,667	493	1982	1999
Northwest Business Center	2270 Northwest Parkway	Industrial	1,590	483	3,887	485	483	4,372	4,855	661	1988	1999
Northwest Business Center	2275 Northwest Parkway	Industrial	1,044	327	2,641	252	327	2,893	3,220	435	1988	1999
MARYLAND HEIGHTS, MISSOURI
Riverport Business Park	Riverport Tower	Office		3,549	30,215	7,875	3,954	37,685	41,639	6,298	1991	1997
Riverport Business Park	Riverport Distribution	Industrial		242	2,272	124	242	2,396	2,638	443	1990	1997
Riverport Business Park	Express Scripts	Office		2,285	12,535	184	2,285	12,719	15,004	3,938	1999	1999
Riverport Business Park	Riverport 1	Industrial		900	3,798	124	900	3,922	4,822	1,240	1999	1999
Riverport Business Park	Riverport 2	Industrial		1,238	7,056	2	1,238	7,058	8,296	2,751	2000	2000
Riverport Business Park	Riverport 3	Industrial		1,269	4,570	1,933	1,269	6,503	7,772	999	2001	2001
Riverport Distribution	Express Scripts Service Center	Industrial		1,197	8,825	150	1,197	8,975	10,172	1,697	1992	1997
MASON, OHIO
Deerfield Crossing	Deerfield Crossing Bldg 1	Office		1,493	14,492	221	1,493	14,713	16,206	3,595	1999	1999
Deerfield Crossing	Deerfield Crossing Bldg 2	Office		1,069	14,269	207	1,069	14,476	15,545	2,557	2001	2001
Governor’s Pointe North	Community Insurance	Office		3,252	17,314	-	3,252	17,314	20,566	-	2002	2002

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
Governor’s Pointe	Governor’s Pointe 4770	Office		586	8,016	114	596	8,120	8,716	3,150	1986	1988
Governor’s Pointe	Governor’s Pointe 4700	Industrial		584	5,868	501	595	6,358	6,953	2,320	1987	1988
Governor’s Pointe	Governor’s Pointe 4900	Industrial		654	4,412	430	673	4,823	5,496	1,821	1987	1989
Governor’s Pointe	Governor’s Pointe 4705	Office		719	8,360	3,162	987	11,254	12,241	3,637	1988	1993
Governor’s Pointe	Governor’s Pointe 4605	Office		630	18,121	949	909	18,791	19,700	5,036	1990	1993
Governor’s Pointe	Governor’s Pointe 8990	Office		594	6,199	436	594	6,635	7,229	2,328	1997	1997
Governor’s Pointe	Governor’s Pointe 4660	Office		385	4,838	54	529	4,748	5,277	1,183	1997	1997
Governor’s Pointe	Governor’s Pointe 4680	Office		1,115	8,697	116	1,115	8,813	9,928	2,273	1998	1998
Governor’s Pointe	Governor’s Pointe 4690	Office		907	3,488	174	907	3,662	4,569	476	2002	2002
Governors Pointe Retail	Bigg’s Supercenter	Retail		2,107	10,040	23	4,227	7,943	12,170	2,392	1996	1996
Governors Pointe Retail	Lowes	Retail		3,750	6,614	219	3,750	6,833	10,583	2,135	1997	1997
MAYFIELD HEIGHTS, OHIO
Landerbrook Corporate Ctr	Landerbrook Corp. Center I	Office		1,807	10,266	69	1,808	10,334	12,142	2,323	1997	1997
Landerbrook Corporate Ctr	Landerbrook Corp. Center II	Office		1,382	10,226	1,787	1,382	12,013	13,395	2,839	1998	1998
Landerbrook Corporate Ctr	Landerbrook Corp. Center III	Office		1,528	8,591	4,631	1,684	13,066	14,750	1,454	2000	2001
MCDONOUGH, GEORGIA
Liberty Dist. Center	120 Declaration Drive	Industrial		615	8,603	80	615	8,683	9,298	1,200	1997	1999
Liberty Dist. Center	Liberty III	Industrial		2,273	14,604	611	2,273	15,215	17,488	1,906	2001	2001
MENDOTA HEIGHTS, MINNESOTA
Enterprise Industrial Center	Enterprise Industrial Center	Industrial	1,775	864	5,073	235	864	5,308	6,172	960	1979	1997
MILFORD, OHIO
Park 50	Park 50 Bldg 17	Office		500	5,123	347	510	5,460	5,970	2,541	1985	1986
Park 50	Park 50 Bldg 20	Industrial		461	6,634	365	469	6,991	7,460	3,179	1987	1988
Park 50	Park 50 Bldg 25	Industrial		1,161	3,751	755	1,184	4,483	5,667	1,266	1989	1993
MINNEAPOLIS, MINNESOTA
Broadway Business Center	Broadway Business Ctr III	Industrial		140	817	171	144	984	1,128	160	1983	1998
Broadway Business Center	Broadway Business Ctr IV	Industrial		194	1,173	323	200	1,490	1,690	286	1983	1998
Broadway Business Center	Broadway Business Ctr VI	Industrial		433	2,538	583	447	3,107	3,554	652	1983	1998
Broadway Business Center	Broadway Business Ctr VII	Industrial		233	1,385	95	241	1,472	1,713	249	1983	1998
Minneapolis	Chilies Ground Lease	Grounds		921	-	69	990	-	990	3		1998
Minneapolis	Olive Garden Ground Lease	Grounds		921	-	-	921	-	921	-		1998
MINNETONKA, MINNESOTA
10801 Red Circle Drive	10801 Red Circle Dr.	Office		527	2,472	701	527	3,173	3,700	574	1977	1997
MONROE, OHIO
Monroe Business Center	Monroe Business Center Bldg. 1	Industrial		660	5,484	305	660	5,789	6,449	974	1992	1999
MORRISVILLE, NORTH CAROLINA
Perimeter Park	507 Airport Blvd	Industrial		1,327	8,464	914	1,351	9,354	10,705	1,317	1993	1999
Perimeter Park	5151 McCrimmon Pkwy	Industrial		1,318	8,241	431	1,342	8,648	9,990	1,473	1995	1999
Perimeter Park	2600 Perimeter Park Dr	Industrial		975	5,407	341	991	5,732	6,723	842	1997	1999
Perimeter Park	5150 McCrimmon Pkwy	Industrial		1,739	12,278	150	1,773	12,394	14,167	1,700	1998	1999
Perimeter Park	2400 Perimeter Park Dr.	Office		760	6,322	1,035	778	7,339	8,117	1,198	1999	1999
Perimeter Park	3000 Perimeter Park Dr	Industrial	1,693	482	3,165	653	491	3,809	4,300	675	1989	1999
Perimeter Park	2900 Perimeter Park Dr	Industrial	1,312	235	2,346	705	264	3,022	3,286	586	1990	1999
Perimeter Park	2800 Perimeter Park Dr	Industrial	2,350	777	4,940	213	811	5,119	5,930	763	1992	1999
Perimeter Park	100 Perimeter Park Drive	Industrial		477	3,250	1,496	477	4,746	5,223	612	1987	1999
Perimeter Park	200 Perimeter Park Drive	Industrial		567	3,160	229	576	3,380	3,956	470	1987	1999
Perimeter Park	300 Perimeter Park Drive	Industrial		567	3,159	1,567	567	4,726	5,293	583	1986	1999
Perimeter Park	400 Perimeter Park Drive	Industrial	3,614	486	4,470	104	486	4,574	5,060	657	1983	1999
Perimeter Park	500 Perimeter Park Drive	Industrial		522	4,421	238	522	4,659	5,181	679	1985	1999
Perimeter Park	800 Perimeter Park Drive	Industrial	2,672	405	3,321	1,753	405	5,074	5,479	964	1984	1999
Perimeter Park	900 Perimeter Park Drive	Industrial		629	1,918	1,277	629	3,195	3,824	495	1982	1999
Perimeter Park	1000 Perimeter Park Drive	Industrial		405	3,268	940	405	4,208	4,613	665	1982	1999
Perimeter Park	1100 Perimeter Park Drive	Industrial		777	6,056	664	794	6,703	7,497	980	1990	1999
Perimeter Park	1400 Perimeter Park Drive	Office		666	4,614	1,284	974	5,590	6,564	827	1991	1999
Perimeter Park	1500 Perimeter Park Drive	Office		1,148	10,424	301	1,177	10,696	11,873	1,527	1996	1999
Perimeter Park	1600 Perimeter Park Drive	Office		1,463	10,160	771	1,513	10,881	12,394	1,528	1994	1999
Perimeter Park	1800 Perimeter Park Drive	Office		907	5,751	593	976	6,275	7,251	853	1994	1999
Perimeter Park	2000 Perimeter Park Drive	Office		788	5,860	677	842	6,483	7,325	1,215	1997	1999
Perimeter Park	1700 Perimeter Center West	Office		1,230	10,808	372	1,260	11,150	12,410	1,514	1997	1999
Perimeter Park	3900 N. Paramount Parkway	Office		540	13,328	154	574	13,448	14,022	1,876	1998	1999
Perimeter Park	3900 S.Paramount Pkwy	Office		1,575	12,573	1,011	1,612	13,547	15,159	2,568	2000	1999
Perimeter Park	5200 East Paramount	Office		1,748	17,892	816	1,797	18,659	20,456	3,479	1999	1999
Perimeter Park	3500 Paramount Pkwy	Office		755	13,072	13	755	13,085	13,840	2,446	1999	2000
Perimeter Park	2700 Perimeter Park	Industrial		662	3,233	948	662	4,181	4,843	559	2001	2001
Perimeter Park	5200 West Paramount	Office		1,831	13,288	26	1,831	13,314	15,145	1,422	2000	2001

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
Perimeter Park	2450 Perimeter Park	Office		669	4,028	-	669	4,028	4,697	856	2001	2001
Research Triangle Ind. Ctr	409 Airport Blvd Bldg A	Industrial	700	296	1,291	22	300	1,309	1,609	186	1983	1999
Research Triangle Ind. Ctr	409 Airport Blvd Bldg B	Industrial	439	175	772	54	177	824	1,001	128	1986	1999
Research Triangle Ind. Ctr	409 Airport Blvd bldg C	Industrial	1,415	185	2,856	219	193	3,067	3,260	467	1982	1999
Woodlake Center	100 Innovation Avenue	Industrial		633	4,014	261	633	4,275	4,908	721	1994	1999
Woodlake Center	101 Innovation Ave	Industrial		615	4,106	97	615	4,203	4,818	605	1997	1999
Woodlake Center	200 Innovation Drive	Industrial		357	4,336	85	357	4,421	4,778	693	1999	1999
Woodlake Center	501 Innovation Ave.	Industrial		640	7,132	47	640	7,179	7,819	1,951	1999	1999
Woodlake Center	1000 Innovation	Industrial		514	2,941	39	514	2,980	3,494	208	1996	2002
Woodlake Center	1200 Innovation	Industrial		740	5,925	59	740	5,984	6,724	674	1996	2002
Woodlake Center	Woodlake VIII	Industrial		908	1,545	-	908	1,545	2,453	72	2003	2003
NAPERVILLE, ILLINOIS
Meridian Business Campus	1835 Jefferson	Industrial		1,723	5,553	-	1,723	5,553	7,276	216	2003	2003
NASHVILLE, TENNESSEE
Airpark Business Center	1420 Donelson Pike	Industrial	521	1,331	5,417	499	1,357	5,890	7,247	908	1985	1999
Airpark Business Center	1410 Donelson Pike	Industrial	610	1,411	6,917	164	1,411	7,081	8,492	989	1986	1999
Airpark Business Center	1400 Donelson Pike	Industrial	470	1,276	5,057	224	1,276	5,281	6,557	830	1996	1999
Airpark Business Center	400 Airpark Center	Industrial	1,695	419	2,188	18	419	2,206	2,625	318	1989	1999
Airpark Business Center	500 Airpark Center Dr.	Industrial	2,661	923	2,465	792	923	3,257	4,180	466	1988	1999
Airpark Business Center	600 Airport Center Dr	Industrial	2,645	729	3,341	63	729	3,404	4,133	483	1990	1999
Airpark Business Center	700 Airpark Center Dr.	Industrial	2,578	801	2,849	379	801	3,228	4,029	459	1992	1999
Airpark Business Center	800 Airpark Center Dr.	Industrial	2,373	924	4,021	392	924	4,413	5,337	683	1995	1999
Airpark Business Center	900 Airpark Center Dr	Industrial	1,961	798	3,424	259	798	3,683	4,481	580	1995	1999
Airpark Business Center	1000 Airpark Center Dr.	Industrial		1,300	9,650	26	1,300	9,676	10,976	1,335	1997	1999
Airpark Business Center	5270 Harding place	Industrial	1,059	535	2,501	8	535	2,509	3,044	348	1996	1999
Airpark Business Center	1415 Donelson Pike	Industrial	3,700	1,308	8,822	378	1,308	9,200	10,508	1,308	1996	1999
Airpark Business Center	1413 Donelson Pike	Industrial	1,180	549	2,751	43	549	2,794	3,343	395	1996	1999
Airpark Business Center	5233 Harding Place	Industrial		628	3,084	18	628	3,102	3,730	711	1998	1999
Airpark East	Airpark East-Eagle Bldg	Industrial		1,564	3,363	677	1,564	4,040	5,604	348	2001	2002
Cumberland Business Center	Cumberland Business Center I	Industrial		1,461	6,958	-	1,461	6,958	8,419	1,538	1999	1999
Four-Forty Business Center	700 Melrose Avenue	Industrial	3,197	938	6,481	-	938	6,481	7,419	886	1997	1999
Four-Forty Business Center	684 Melrose Ave	Industrial		1,812	7,605	209	1,812	7,814	9,626	1,127	1998	1999
Four-Forty Business Center	782 Melrose Avenue	Industrial		1,522	5,766	261	1,522	6,027	7,549	933	1997	1999
Four-Forty Business Center	784 Melrose Ave.	Industrial		471	3,331	516	471	3,847	4,318	849	1999	1999
Greenbriar	Greenbriar Business Park	Industrial		1,445	5,248	953	1,445	6,201	7,646	1,583	1986	1994
Haywood Oaks	Haywood Oaks Bldg 2	Industrial		395	1,941	183	395	2,124	2,519	579	1988	1993
Haywood Oaks	Haywood Oaks Bldg 3	Industrial		346	1,777	375	346	2,152	2,498	698	1988	1993
Haywood Oaks	Haywood Oaks Bldg 4	Industrial		435	2,126	68	435	2,194	2,629	598	1988	1993
Haywood Oaks	Haywood Oaks Bldg 5	Industrial		629	3,093	95	629	3,188	3,817	878	1988	1993
Haywood Oaks	Haywood Oaks Bldg 6	Industrial		924	6,418	481	946	6,877	7,823	1,919	1989	1993
Haywood Oaks	Haywood Oaks Bldg 7	Industrial		456	1,875	265	456	2,140	2,596	520	1995	1995
Haywood Oaks	Haywood Oaks Bldg 8	Industrial		617	3,563	181	751	3,610	4,361	1,087	1997	1997
Haywood Oaks East	Haywood Oaks East	Industrial		969	5,906	248	969	6,154	7,123	1,326	2000	2000
Lakeview Place	Three Lakeview	Office		2,126	14,034	1,708	2,126	15,742	17,868	3,180	1999	1999
Lakeview Place	One Lakeview Place	Office		2,046	11,887	1,377	2,123	13,187	15,310	2,429	1986	1998
Lakeview Place	Two Lakeview Place	Office		2,046	11,910	581	2,046	12,491	14,537	2,009	1988	1998
Riverview Business Center	545 Mainstream Dr.	Office		847	6,326	683	847	7,009	7,856	1,134	1983	1999
Metro Center	566 Mainstream Dr.	Industrial		454	3,937	496	454	4,433	4,887	732	1982	1999
Metro Center	621 Mainstream Dr.	Industrial		428	2,868	243	428	3,111	3,539	470	1984	1999
Riverview Business Center	Riverview Business Center I	Industrial		497	2,878	59	497	2,937	3,434	687	2000	2000
Riverview Business Center	Riverview Business Center II	Industrial		685	2,738	210	685	2,948	3,633	506	2001	2001
Metropolitan Airport Center	Metro Airport Center Bldg 1	Industrial		1,180	4,128	344	1,190	4,462	5,652	861	1999	1999
Metropolitan Airport Center	Metro Airport Bus Ctr C	Industrial		1,053	6,652	111	1,053	6,763	7,816	745	2001	2001
Nashville Business Center	3300 Briley Park Blvd	Industrial		936	6,417	103	936	6,520	7,456	1,175	1997	1999
Nashville Park	Powertel Pk Lot at Grassmere	Grounds		1,050	-	39	1,089	-	1,089	78	2003	2003
Royal Parkway Center	2515 Perimeter Park	Industrial		731	4,766	217	734	4,980	5,714	681	1990	1999
Royal Parkway Center	500 Royal Parkway	Industrial		603	4,644	18	603	4,662	5,265	639	1990	1999
NEW ALBANY, OHIO
New Albany	6525 West Campus Oval	Office		842	3,467	1,922	881	5,350	6,231	524	1993	1999
NILES, ILLINOIS
Niles Park	6300 Howard St.	Industrial		4,920	3,671	-	4,920	3,671	8,591	61	1950	2004
NORCROSS, GEORGIA
Gwinnett Park	4258 Communications Drive	Industrial		29	2,388	116	29	2,504	2,533	342	1981	1999
Gwinnett Park	4245 International Blvd	Industrial		192	6,961	-	192	6,961	7,153	1,441	1985	1999
Gwinnett Park	4355 International Blvd	Industrial		233	2,969	110	233	3,079	3,312	429	1983	1999
Gwinnett Park	4436 Park Drive	Industrial		18	1,516	36	26	1,544	1,570	307	1968	1999

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
Gwinnett Park	1835 Shackleford Court	Office		29	6,309	1,000	29	7,309	7,338	1,076	1990	1999
Gwinnett Park	1854 Shackleford Road	Office		52	10,387	1,115	52	11,502	11,554	2,085	1985	1999
Gwinnett Park	4274 Shackleford Road	Industrial		27	3,626	82	32	3,703	3,735	541	1974	1999
Gwinnett Park	4275 Shackleford Court	Office	334	8	2,125	497	12	2,618	2,630	416	1985	1999
Northeast I85	5755 Peachtree Industrial Blvd	Office		800	3,652	229	800	3,881	4,681	532	1997	1999
Northeast I85	5765 Peachtree Industrial Blvd	Industrial		521	4,671	-	521	4,671	5,192	640	1997	1999
Northeast I85	5775 Peachtree Industrial Blvd	Industrial		521	4,695	35	521	4,730	5,251	665	1997	1999
Northwoods	2915 Courtyards Drive	Industrial		268	1,967	374	268	2,341	2,609	317	1986	1999
Northwoods	2925 Courtyards Drive	Industrial		333	3,243	311	333	3,554	3,887	457	1986	1999
Northwoods	2975 Courtyards Drive	Industrial		144	1,268	261	144	1,529	1,673	217	1986	1999
Northwoods	2995 Courtyards Drive	Industrial		109	894	34	109	928	1,037	123	1986	1999
Northwoods	2725 Northwoods Pkwy	Industrial		440	2,575	704	440	3,279	3,719	568	1984	1999
Northwoods	2755 Northwoods Pkwy	Industrial		249	2,887	127	249	3,014	3,263	403	1986	1999
Northwoods	2775 Northwoods Pkwy	Industrial		322	2,431	145	322	2,576	2,898	338	1986	1999
Northwoods	2850 Colonnades Court	Industrial		562	5,294	251	562	5,545	6,107	755	1988	1999
Northwoods	3040 Northwoods Pkwy	Industrial		298	1,806	311	298	2,117	2,415	367	1984	1999
Northwoods	3055 Northwoods Pkwy	Industrial		213	1,560	88	213	1,648	1,861	236	1985	1999
Northwoods	3075 Northwoods Pkwy	Industrial		374	2,872	789	374	3,661	4,035	456	1985	1999
Northwoods	3100 Northwoods Pkwy	Industrial		393	2,550	165	393	2,715	3,108	360	1985	1999
Northwoods	3155 Northwoods Pkwy	Industrial		331	2,511	320	331	2,831	3,162	356	1985	1999
Northwoods	3175 Northwoods Pkwy	Industrial		250	2,076	84	250	2,160	2,410	287	1985	1999
Peachtree Corners Tech Center	3170 Reps Miller Road	Industrial		500	3,671	18	500	3,689	4,189	504	1998	1999
Peachtree Corners Tech Center	3180 Reps Miller Road	Industrial		500	2,951	38	500	2,989	3,489	410	1998	1999
Peachtree Corners Tech Center	3190 Reps Miller Road	Industrial		525	2,371	1,329	525	3,700	4,225	506	1998	1999
							-	-
NORTHLAKE, ILLINOIS							-	-
Northlake	Northlake I	Industrial		5,721	10,859	-	5,721	10,859	16,580	810	2002	2002
Northlake	Northlake II	Industrial		2,911	5,784	-	2,977	5,718	8,695	84	1970	2004
NORTH OLMSTED, OHIO
Great Northern Corp Center	Great Northern Corp Center I	Office		1,040	7,235	961	1,040	8,196	9,236	1,750	1985	1996
Great Northern Corp Center	Great Northern Corp Center II	Office		1,048	7,299	893	1,048	8,192	9,240	1,780	1987	1996
Great Northern Corp Center	Great Northern Corp Center III	Office		604	5,776	339	604	6,115	6,719	1,294	1999	1999
OLIVETTE, MISSOURI
Warson Commerce Center	Warson Commerce Center	Industrial		749	5,448	481	749	5,929	6,678	1,081	1987	1998
ORLANDO, FLORIDA
Business Centre at Lee Vista	Lee Vista Distribution Ctr I	Industrial		819	4,559	85	819	4,644	5,463	1,335	1998	1999
Business Centre at Lee Vista	Lee Vista Distribution Ctr II	Industrial		740	3,959	12	740	3,971	4,711	1,123	1999	2000
Business Centre at Lee Vista	Lee Vista Service Center I	Industrial		926	2,378	1,250	926	3,628	4,554	403	2000	2001
Bus Ctr at Lee Vista-Gen	Lee Vista Distrib. Center III	Industrial		841	3,596	186	841	3,782	4,623	310	2001	2002
Liberty Park @ Southcenter	Southcenter I-Brede/Allied	Industrial		3,094	3,867	-	3,094	3,867	6,961	298	2002	2002
Parksouth Dist. Center	Parksouth Dist. Ctr-Bldg B	Industrial		565	4,906	407	570	5,308	5,878	709	1996	1999
Parksouth Dist. Center	Parksouth Dist. Ctr-Bldg A	Industrial		493	4,557	159	498	4,711	5,209	640	1997	1999
Parksouth Dist. Center	Parksouth Dist. Ctr-Bldg D	Industrial		593	4,142	5	597	4,143	4,740	581	1998	1999
Parksouth Dist. Center	Parksouth Dist. Ctr-Bldg E	Industrial		649	4,667	215	653	4,878	5,531	686	1997	1999
Parksouth Dist. Center	Parksouth Dist. Ctr-Bldg F	Industrial		1,030	5,543	978	1,035	6,516	7,551	1,199	1999	1999
Parksouth Dist. Center	Parksouth Dist. Ctr-Bldg H	Industrial		725	3,977	9	730	3,981	4,711	613	2000	2000
Parksouth Dist. Center	Chase Orlando	Industrial		598	2,068	1,220	674	3,212	3,886	234	2000	2001
Parksouth Dist. Center	Parksouth-Benjamin Moore	Industrial		708	2,076	-	1,115	1,669	2,784	117	2003	2003
OVERLAND, MISSOURI
I-170 Center	I-170 Center	Industrial		950	4,230	721	1,018	4,883	5,901	1,198	1986	1996
PARK RIDGE, ILLINOIS
O’Hare Corporate Centre	O’Hare Corporate Centre	Office		1,476	9,184	-	1,476	9,184	10,660	274	1985	2003
PEPPER PIKE, OHIO
Corporate Circle	Corporate Circle	Office		1,696	11,534	2,460	1,698	13,992	15,690	2,880	1983	1996
PLAINFIELD, INDIANA
Plainfield Business Park	Plainfield Building 1	Industrial	6,072	1,104	11,235	10	1,104	11,245	12,349	1,385	2000	2000
Plainfield Business Park	Plainfield Building 2	Industrial		1,387	9,734	14	1,387	9,748	11,135	1,430	2000	2000
Plainfield Business Park	Plainfield Building 3	Industrial		2,016	12,460	281	2,016	12,741	14,757	859	2002	2002
Plainfield Business Park	Plainfield Building 5	Industrial		1,890	6,867	-	1,890	6,867	8,757	-	2004	2004
PLANO, TEXAS
Legacy Business Park	Metasolv Building Phase I	Office		1,527	5,849	706	1,527	6,555	8,082	1,025	1997	1999
Legacy Business Park	Metasolv Building Phase II	Office		1,181	11,294	65	1,181	11,359	12,540	1,903	1999	1999

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
PLYMOUTH, MINNESOTA
Medicine Lake	Medicine Lake Indus. Center	Industrial	3,045	1,145	6,744	862	1,145	7,606	8,751	1,651	1970	1997
Plymouth Office/Tech Center	Plymouth Office/Tech Center	Industrial		428	2,458	562	431	3,017	3,448	596	1986	1998
Westpoint Buildings	Westpoint Business Ctr	Office		98	573	301	114	858	972	237	1978	1999
Westpoint Buildings	Westpoint Bldg B&C	Industrial		370	2,166	756	370	2,922	3,292	576	1978	1999
Westpoint Buildings	Westpoint Bldg D&E	Industrial		362	2,127	636	362	2,763	3,125	779	1978	1999
RALEIGH, NORTH CAROLINA
Brook Forest	Brook Forest I	Office		1,242	6,221	404	1,242	6,625	7,867	1,184	2000	2000
Centerview	Centerview 5540	Office		773	6,307	342	773	6,649	7,422	212	1986	2003
Centerview	Centerview 5565	Office		513	4,831	123	513	4,954	5,467	161	1999	2003
Centerview	Centerview 5580	Office		768	5,675	178	768	5,853	6,621	188	1987	2003
Crabtree Overlook	Crabtree Overlook	Office		2,164	21,005	135	2,164	21,140	23,304	2,720	2000	2001
Interchange Plaza	801 Jones Franklin Rd	Office	4,770	1,351	7,800	508	1,351	8,308	9,659	1,145	1995	1999
Interchange Plaza	5520 Capital Ctr Dr	Office		842	4,412	507	842	4,919	5,761	788	1993	1999
Spring Forest Business Center	3200 Spring Forest Road	Industrial		561	5,253	1,578	561	6,831	7,392	924	1986	1999
Spring Forest Business Center	3100 Spring Forest Road	Industrial		616	4,232	410	616	4,642	5,258	716	1992	1999
Spring Forest Business Center	Spring Forest Bus Center III	Office		462	3,124	357	462	3,481	3,943	402	2002	2002
Walnut Creek	Walnut Creek Business Park #1	Industrial		419	3,126	218	419	3,344	3,763	578	2001	2001
Walnut Creek	Walnut Creek Business Park #2	Industrial		456	3,808	46	456	3,854	4,310	521	2001	2001
Walnut Creek	Walnut Creek Business Park #3	Industrial		679	4,374	1,213	679	5,587	6,266	452	2001	2001
Walnut Creek	Walnut Creek IV	Industrial		2,038	2,714	-	2,038	2,714	4,752	67	2004	2004
ROMEOVILLE, ILLINOIS
Crossroads Business Park	Chapco Carton Company	Industrial		917	5,224	42	917	5,266	6,183	385	1999	2002
ROSWELL, GEORGIA
Hembree Crest	11545 Wills Road	Industrial		1,225	6,479	158	1,225	6,637	7,862	899	1998	1999
Hembree Park	105 Hembree Park Drive	Industrial		288	1,796	287	288	2,083	2,371	282	1988	1999
Hembree Park	150 Hembree Park Drive	Industrial		824	3,761	256	824	4,017	4,841	642	1985	1999
Hembree Park	200 Hembree Park Drive	Industrial		160	2,064	370	160	2,434	2,594	391	1985	1999
Hembree Park	645 Hembree Parkway	Industrial		248	2,627	433	248	3,060	3,308	617	1986	1999
Hembree Park	655 Hembree Parkway	Industrial		248	2,762	219	248	2,981	3,229	452	1986	1999
Hembree Park	250 Hembree Park Drive	Industrial		686	5,269	428	686	5,697	6,383	861	1996	1999
Hembree Park	660 Hembree Park Drive	Industrial		785	5,083	377	785	5,460	6,245	768	1998	1999
Hembree Park	245 Hembree Park Drive	Industrial		616	6,388	949	616	7,337	7,953	1,976	1999	1999
Mansell Commons	993 Mansell Road	Industrial		136	1,288	6	136	1,294	1,430	176	1987	1999
Mansell Commons	995 Mansell Road	Industrial		80	917	47	80	964	1,044	155	1987	1999
Mansell Commons	997 Mansell Road	Industrial		72	666	48	72	714	786	121	1987	1999
Mansell Commons	999 Mansell Road	Industrial		104	955	10	104	965	1,069	131	1987	1999
Mansell Commons	1003 Mansell Road	Industrial		136	1,365	127	136	1,492	1,628	271	1987	1999
Mansell Commons	1005 Mansell Road	Industrial		72	948	55	72	1,003	1,075	145	1987	1999
Mansell Commons	1007 Mansell Road	Industrial		168	2,135	381	168	2,516	2,684	449	1987	1999
Mansell Commons	1009 Mansell Road	Industrial		264	2,546	359	264	2,905	3,169	458	1986	1999
Mansell Commons	1011 Mansell Road	Industrial		256	2,662	401	256	3,063	3,319	597	1984	1999
North Meadow	1100 Northmeadow Parkway	Industrial		552	3,966	417	557	4,378	4,935	641	1989	1999
North Meadow	1150 Northmeadow Parkway	Industrial		464	3,239	186	464	3,425	3,889	555	1988	1999
North Meadow	1125 Northmeadow Parkway	Industrial		320	3,647	396	320	4,043	4,363	671	1987	1999
North Meadow	1175 Northmeadow Parkway	Industrial		328	3,418	695	328	4,113	4,441	671	1987	1999
North Meadow	1250 Northmeadow Parkway	Industrial		312	4,370	431	312	4,801	5,113	800	1989	1999
North Meadow	1225 Northmeadow Parkway	Industrial		336	3,518	235	336	3,753	4,089	575	1989	1999
North Meadow	1325 Northmeadow Parkway	Industrial		472	6,448	375	472	6,823	7,295	1,148	1990	1999
North Meadow	1335 Northmeadow Parkway	Industrial		946	8,195	276	946	8,471	9,417	1,215	1996	1999
North Meadow	11390 Old Roswell Road	Industrial		530	3,595	14	530	3,609	4,139	499	1997	1999
North Meadow	1400 Hembree Road	Industrial		545	3,267	41	545	3,308	3,853	458	1998	1999
North Meadow	235 Hembree	Industrial		694	5,711	174	694	5,885	6,579	769	1999	1999
North Meadow	1115 Northmeadow Pkwy	Industrial		705	3,272	16	705	3,288	3,993	451	1999	1999
North Meadow	1200 Northmeadow Pkwy	Industrial		423	3,077	64	423	3,141	3,564	816	2000	2000
Other North Central Prop.	10745 Westside Parkway	Office		925	7,177	292	925	7,469	8,394	1,168	1995	1999
SEVEN HILLS, OHIO
Rock Run	Rock Run - North	Office	2,146	837	5,654	539	960	6,070	7,030	1,415	1984	1996
Rock Run	Rock Run - Center	Office	2,675	1,046	6,991	686	1,169	7,554	8,723	1,789	1985	1996
Rock Run	Rock Run - South	Office	2,152	877	5,925	369	1,000	6,171	7,171	1,411	1986	1996
SHARONVILLE, OHIO
Enterprise Park	Enterprise Bldg 1	Industrial		1,030	6,054	552	1,051	6,585	7,636	1,759	1990	1993
Enterprise Park	Enterprise Bldg 2	Industrial		733	3,952	790	747	4,728	5,475	1,515	1990	1993
Enterprise Park	Enterprise Bldg A	Industrial		119	728	128	119	856	975	219	1987	1995
Enterprise Park	Enterprise Bldg B	Industrial		119	1,249	47	119	1,296	1,415	316	1988	1995
Enterprise Park	Enterprise Bldg D	Industrial		243	2,014	39	243	2,053	2,296	466	1989	1995

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development	Gross Book Value 12/31/04			Accumulated	Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition	Land/Land Imp	Bldgs/TI	Total	Depreciation (1)	Constructed	Acquired
Mosteller Dist. Center	Mosteller Distribution Ctr I	Industrial		1,327	6,351	1,946	1,327	8,297	9,624	2,068	1957	1996
Mosteller Dist. Center	Mosteller Distribution Ctr II	Industrial		828	4,813	928	828	5,741	6,569	1,533	1997	1997
Perimeter Park	Perimeter Park Bldg A	Industrial		229	1,353	290	229	1,643	1,872	372	1991	1996
Perimeter Park	Perimeter Park Bldg B	Industrial		244	1,077	87	244	1,164	1,408	252	1991	1996
SOLON, OHIO
Fountain Parkway	Fountain Parkway Bldg 2	Industrial		1,138	8,827	65	1,138	8,892	10,030	1,421	1998	1999
Fountain Parkway	Fountain Parkway Bldg 1	Industrial		527	2,939	41	527	2,980	3,507	540	1997	1998
Solon	30600 Carter	Industrial		819	3,465	403	821	3,866	4,687	730	1971	1997
Solon	6230 Cochran	Industrial		600	2,519	425	602	2,942	3,544	484	1977	1997
Solon	5821 Harper	Industrial		554	2,326	192	555	2,517	3,072	444	1970	1997
Solon	6161 Cochran	Industrial		395	1,667	375	396	2,041	2,437	425	1978	1997
Solon	5901 Harper	Industrial		349	1,448	173	350	1,620	1,970	298	1970	1997
Solon	6661 Cochran	Industrial		244	1,022	116	245	1,137	1,382	222	1979	1997
Solon	6521 Davis	Industrial		128	544	524	128	1,068	1,196	160	1979	1997
Solon	30301 Carter Street	Industrial		650	4,480	468	650	4,948	5,598	739	1972	1999
ST. LOUIS PARK, MINNESOTA
Cedar Lake Business Center	Cedar Lake Business Center	Industrial		332	1,948	414	332	2,362	2,694	403	1976	1997
Minneapolis-West	1600 Tower	Office		2,321	32,034	4,255	2,321	36,289	38,610	6,055	2000	2000
Outside of a Development Park	North Plaza	Office		374	1,669	195	374	1,864	2,238	835	1966	1998
Outside of a Development Park	South Plaza	Office		397	1,742	213	397	1,955	2,352	883	1966	1998
Travelers Park	Travelers Express Tower	Office		3,039	36,228	1,527	3,091	37,703	40,794	5,505	1987	1999
Novartis	Novartis Warehouse	Industrial		2,005	11,017	443	2,005	11,460	13,465	1,920	1960	1998
SW Submkt-Minneapolis West BC	5219 Building	Office		99	574	84	102	655	757	275	1965	1998
ST. LOUIS, MISSOURI
Craig Park Center	Craig Park Center	Industrial		254	2,332	430	254	2,762	3,016	469	1984	1998
Outside of a Development Park	Hawthorn Office#1	Office		2,600	15,328	152	2,600	15,480	18,080	1,174	1997	2002
Lakeside Crossing	Lakeside Crossing I	Industrial		574	2,286	117	574	2,403	2,977	183	2001	2002
Lakeside Crossing	Lakeside Crossing 2	Industrial		1,118	2,224	-	1,118	2,224	3,342	299	2002	2002
Lakeside Crossing	Lakeside Crossing 3	Industrial		1,851	4,906	625	1,851	5,531	7,382	428	2001	2002
Lakeside Crossing	Lakeside Crossing 5	Office		883	1,899	-	883	1,899	2,782	119	2003	2003
Lakeside Crossing	Lakeside Crossing 6	Industrial		1,074	2,143	712	1,507	2,422	3,929	220	2002	2002
Laumeier Office Park	Laumeier I	Office		1,384	10,175	1,858	1,384	12,033	13,417	3,217	1987	1995
Laumeier Office Park	Laumeier II	Office		1,421	10,129	1,249	1,421	11,378	12,799	2,818	1988	1995
Laumeier Office Park	Laumeier IV	Office		1,029	7,439	952	1,029	8,391	9,420	1,707	1987	1998
Maryville Center	500-510 Maryville Centre	Office		3,402	24,823	1,260	3,402	26,083	29,485	4,751	1984	1997
Maryville Center	530 Maryville Centre	Office	6,463	2,219	15,797	1,562	2,219	17,359	19,578	3,476	1990	1997
Maryville Center	550 Maryville Centre	Office		1,996	12,596	122	1,996	12,718	14,714	2,276	1988	1997
Maryville Center	635-645 Maryville Centre	Office		3,048	18,569	743	3,048	19,312	22,360	3,527	1987	1997
Maryville Center	655 Maryville Centre	Office		1,860	13,336	194	1,860	13,530	15,390	2,421	1994	1997
Maryville Center	540 Maryville Centre	Office		2,219	15,019	649	2,219	15,668	17,887	3,158	1990	1997
Maryville Center	520 Maryville Centre	Office		2,404	14,493	407	2,404	14,900	17,304	2,181	1998	1999
Maryville Center	700 Maryville Centre	Office		4,556	28,852	108	4,556	28,960	33,516	4,612	1999	2000
Maryville Center	533 Maryville Centre	Office		3,230	18,083	107	3,230	18,190	21,420	2,475	2000	2000
Maryville Center	555 Maryville Centre	Office		3,226	15,860	1,460	3,226	17,320	20,546	1,555	2000	2001
Maryville Center	625 Maryville Centre	Office	5,124	2,509	11,216	257	2,509	11,473	13,982	1,123	1996	2002
Maryville Center	Maryville Centre Grounds	Grounds		-	-	-	-	-	-	24		1997
St. Louis Business Center	St. Louis Business Center A	Industrial		194	1,795	487	194	2,282	2,476	419	1987	1998
St. Louis Business Center	St. Louis Business Center B	Industrial		250	2,301	817	250	3,118	3,368	603	1986	1998
St. Louis Business Center	St. Louis Business Center C	Industrial		166	1,537	361	166	1,898	2,064	420	1986	1998
St. Louis Business Center	St. Louis Business Center D	Industrial		168	1,552	272	168	1,824	1,992	319	1987	1998
Southridge	Southridge Business Center	Industrial		1,158	4,258	794	1,158	5,052	6,210	290	2002	2002
West Port Center	Westport Center I	Industrial		1,707	5,453	298	1,707	5,751	7,458	1,103	1998	1998
West Port Center	Westport Center II	Industrial		914	2,902	226	914	3,128	4,042	1,241	1998	1998
West Port Center	Westport Center III	Industrial		1,206	3,018	482	1,206	3,500	4,706	841	1998	1999
West Port Center	Westport Center IV	Industrial		1,440	5,585	-	1,440	5,585	7,025	1,275	2000	2000
West Port Center	Westport Center V	Industrial		493	1,614	-	493	1,614	2,107	390	1999	2000
West Port Center	Westport Place	Office		1,990	7,876	285	1,990	8,161	10,151	2,544	1999	2000
Westmark	Westmark	Office		1,497	11,002	1,670	1,681	12,488	14,169	3,374	1987	1995
Westview Place	Westview Place	Office		669	9,474	1,924	669	11,398	12,067	2,971	1988	1995
Woodsmill Commons	Woodsmill Commons II	Office		1,718	7,515	-	1,718	7,515	9,233	204	1985	2003
Woodsmill Commons	Woodsmill Commons I	Office		1,836	7,328	-	1,836	7,328	9,164	208	1985	2003
ST. PAUL, MINNESOTA
University Crossing	University Crossing	Industrial		874	5,101	874	911	5,938	6,849	1,261	1990	1998
ST. PETERS, MISSOURI
Horizon Business Ctr	Horizon Business Center	Industrial		344	2,501	190	344	2,691	3,035	453	1985	1998

						Cost Capitalized
						Subsequent to
		Building		Initial Cost		Development		Gross Book Value 12/31/04						Accumulated		Year	Year
Development	Name	Type	Encumbrances	Land	Buildings	or Acquisition		Land/Land Imp		Bldgs/TI		Total		Depreciation (1)		Constructed	Acquired
STRONGSVILLE, OHIO
Commerce Parkway	Commerce Parkway Bldg 1, 142	Industrial		594	3,775	1,026		594		4,801		5,395		390		2002	2002
Westwood	Dyment	Industrial		816	5,418	60		816		5,478		6,294		1,026		1988	1997
Alameda Drive	12200 Alameda Drive	Industrial		364	2,418	538		367		2,953		3,320		480		1972	1997
Park 82	Park 82 Bldg 2	Industrial		294	2,968	343		294		3,311		3,605		549		1998	1998
Park 82	Park 82 Bldg 1	Industrial		215	2,015	120		215		2,135		2,350		349		1998	1998
Park 82	Park 82 Bldg 3	Industrial		270	2,760	841		270		3,601		3,871		755		1999	1999
Park 82	Park 82 Bldg 4	Industrial		357	5,430	95		357		5,525		5,882		803		2000	2000
Park 82	Park 82 Bldg 5	Industrial		349	4,477	220		349		4,697		5,046		559		2000	2000
Sprague Rd. Industrial	Mohawk Dr. Bldg. 1	Industrial		564	4,495	-		564		4,495		5,059		458		2000	2000
SUNRISE, FLORIDA
Sawgrass	Sawgrass - Building 1	Office		1,211	7,834	-		1,211		7,834		9,045		2,004		1999	2000
Sawgrass	Sawgrass Commerce Ctr Phase II	Office		1,147	5,241	-		1,147		5,241		6,388		297		2000	2001
Sawgrass	Sawgrass Pointe	Office		3,484	21,892	2,552		3,484		24,444		27,928		1,954		2001	2002
SUWANEE, GEORGIA
Northbrook	Northbrook Business Dist II	Industrial		267	2,235	655		267		2,890		3,157		366		2000	2000
TAMPA, FLORIDA
Fairfield Distribution Center	Fairfield Distribution Ctr I	Industrial		483	2,666	37		487		2,699		3,186		377		1998	1999
Fairfield Distribution Center	Fairfield Distribution Ctr II	Industrial		530	4,913	11		534		4,920		5,454		683		1998	1999
Fairfield Distribution Center	Fairfield Distribution Ctr III	Industrial		334	2,778	40		338		2,814		3,152		387		1999	1999
Fairfield Distribution Center	Fairfield Distribution Ctr IV	Industrial		600	2,584	839		604		3,419		4,023		886		1999	1999
Fairfield Distribution Center	Fairfield Distribution Ctr V	Industrial		488	3,561	85		488		3,646		4,134		626		2000	2000
Fairfield Distribution Center	Fairfield Distribution Ctr VI	Industrial		555	4,548	301		555		4,849		5,404		571		2001	2001
Fairfield Distribution Center	Fairfield Distribution Ctr VII	Industrial		394	4,067	593		394		4,660		5,054		1,005		2001	2001
Fairfield Distribution Center	Fairfield VIII	Industrial		1,082	2,490	-		1,082		2,490		3,572		49		2004	2004
Highland Oaks	Highland Oaks I	Office		1,525	14,217	588		1,525		14,805		16,330		2,831		1999	1999
Highland Oaks	Highland Oaks II	Office		1,605	11,930	1,888		1,605		13,818		15,423		1,992		1999	2000
TWINSBURG, OHIO
Enterprise Parkway	Enterprise Parkway #1	Industrial		198	1,604	193		198		1,797		1,995		290		1974	1998
Enterprise Parkway	Enterprise Parkway Bldg 2	Industrial		610	7,429	-		610		7,429		8,039		972		2000	2000
WEST CHESTER, OHIO
Centre Pointe Office Park	Centre Pointe 1	Office		2,501	9,433	-		2,501		9,433		11,934		219		2000	2004
Centre Pointe Office Park	Centre Pointe 2	Office		2,056	9,950	-		2,056		9,950		12,006		229		2001	2004
Centre Pointe Office Park	Centre Pointe 3	Office		2,048	9,829	-		2,048		9,829		11,877		224		2002	2004
World Park Union Centre	WP@Union Ctr Bldg 11	Industrial		2,592	6,716	-		2,592		6,716		9,308		123		2004	2004
World Park Union Centre	World Park at Union Ctr 12	Industrial		306	3,510	13		306		3,523		3,829		957		2000	2000
WESTERVILLE, OHIO
Westerville Executive Campus	Liebert	Office		755	3,612	877		755		4,489		5,244		884		1999	1999
WESTMONT, ILLINOIS
Oakmont Corporate Center	Oakmont Tech Center	Industrial		1,501	8,750	659		1,703		9,207		10,910		1,400		1989	1998
Oakmont Corporate Center	Oakmont Circle Office	Office		3,177	14,275	1,209		3,528		15,133		18,661		2,632		1990	1998
WILSON, NORTH CAROLINA
Wilson Development	Cott Beverages	Industrial		307	3,393	-		307		3,393		3,700		-		1996	2004
	Eliminations					(27,711	)	(206	)	(27,505	)	(27,711	)	(13,413	)
			$203,081	$693,657	$4,361,414	$322,023		$710,379		$4,666,715		$5,377,094		$788,900

(1)Depreciation of real estate is computed using the straight-line method over 40 years for buildings, 15 years for land improvements and shorter periods based on lease terms (generally 3 to 10 years) for tenant improvements.

DUKE REALTY CORPORATION	Schedule 3
REAL ESTATE AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2004
(IN THOUSANDS)

	Real Estate Assets									Accumulated Depreciation
	2004			2003			2002			2004			2003			2002
Balance at beginning of year	$	5,094,168		$	4,846,355		$	4,652,853		$	677,357		$	555,858		$	425,721
Acquisitions	213,500			233,248			137,706			-			-			-
Construction costs and tenant improvements	291,850			188,449			275,020			-			-			-
Depreciation expense				-			-			185,091			168,959			154,565
Acquisition of minority interest	11,408			9,984			13,163						-			-
	5,610,926			5,278,036			5,078,742			862,448			724,817			580,286
Deductions during year:
Cost of real estate sold or contributed	(180,982		)	(150,874		)	(204,248		)	(20,878		)	(14,966		)	(5,668		)
Impairment Allowance	(180		)	(500		)	(9,379		)
Write-off of fully amortized assets	(52,670		)	(32,494		)	(18,760		)	(52,670		)	(32,494		)	(18,760		)
Balance at end of year	$	5,377,094		$	5,094,168		$	4,846,355		$	788,900		$	677,357		$	555,858