SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* MCCOY WILLIAM O (Last) (First) (Middle) 1450 RALEIGH ROAD, SUITE 300 (Street) CHAPEL HILL, NC 27517 (City) (State) (Zip)	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)
	3. Date of Earliest Transaction (Month/Day/Year) 11/14/2006
	4. If Amendment, Date of 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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/14/2006		M		4,260	A	$0	32,231	D
Common Stock	11/14/2006		S		2,501	D	$39.85	29,730	D
Common Stock								15,599	I	By Spouse

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 Securities Underlying Derivative Security (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: 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	$23.4028	11/14/2006		M			4,260	(1)	12/31/2006	Common Stock	4,260	$0	0	D
Employee Stock Options-Right to Buy	$22.523							(1)	12/31/2007	Common Stock	4,260		4,260	D
Employee Stock Options-Right to Buy	$19.8395							(1)	12/31/2008	Common Stock	7,100		7,100	D
Employee Stock Options-Right to Buy	$19.4261							(2)	01/25/2010	Common Stock	2,573		2,573	D
Employee Stock Options-Right to Buy	$24.2632							(3)	01/31/2011	Common Stock	2,573		2,573	D
Employee Stock Options-Right to Buy	$22.6799							(4)	01/30/2012	Common Stock	2,573		2,573	D
Employee Stock Options-Right to Buy	$24.1854							(5)	01/29/2013	Common Stock	2,573		2,573	D
Employee Stock Options-Right to Buy	$31.5771							(6)	01/28/2014	Common Stock	2,573		2,573	D
Phantom Stock Units	(7)							(7)	(7)	Common Stock	16,089		16,089	D
Phantom Stock Units	(8)							(8)	(8)	Common Stock	1,980		1,980(8)	D

Explanation of Responses:

1. The Stock Options were fully vested on the grant date.

2. The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/25/05.

3. The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/31/06.

4. The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/30/07.

5. The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/29/08.

6. The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/28/09.

7. Represents phantom stock units 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 drector of the Issurer.

8. Represents phantom stock units accrued under the Weeks Corporation 1998 Deferred Compensation Plan. Between July 6, 2006 and October 3, 2006, the Reporting Person acquired 25 shares of the Company's common stock through dividend reinvestment. All amounts accrued under the plan are to be paid in cash upon the Reporting Person's termination as a director of the Issuer.

Remarks:

	Tracy D. Swearingen for William O. McCoy per POA previously filed	11/16/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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