 RELIABLE. ANSWERS. REIT Week: NAREIT Investor Forum June 7-9, 2011 Exhibit 99.1 |
 RELIABLE. ANSWERS. 2011 Duke Realty Corporation 2 2009 2010 FOCUS: Liquidity More than $1.5 billion capital raised Strategy refined FOCUS: Strategy execution Operating fundamentals Balance sheet strength FOCUS: Asset quality Cash flow growth Shareholder return Where we’ve been and where we’re going… 2011 and beyond |
 RELIABLE. ANSWERS. 2011 Duke Realty Corporation Suburban Office Market Still Challenging Economic uncertainty limiting business investment and expansion decisions Continued improvements in consumer spending, corporate profits and job outlook will be catalyst Recovery will be at slower pace Medical Office Regaining Traction Operators re-visiting expansion decisions Relationships are a key driver of on campus MOB business Demographics and economics positive growth drivers 3 Market Outlook Fundamentals beginning to recover Industrial Recovery Taking Shape Net absorption in U.S. for Q1 2011 was positive for the third consecutive quarter Retailers posting good results; container traffic volumes continuing to increase Consumer confidence improving |
 RELIABLE. ANSWERS. 2011 Duke Realty Corporation Focus on: Increasing cash flow Maximizing return on assets 4 Strategy for Success Focus on: Improving coverage ratios Improving ratings Focus on: Portfolio repositioning Strategic acquisitions & dispositions Development opportunities Delivering on what we say we will do |
 RELIABLE. ANSWERS. 2011 Duke Realty Corporation Strategic Focus 2011 Goals and Objectives Q1 2011 Update • Lease-up portfolio, manage cap ex; reach positive same property income growth • Balance execution with capital strategy relative to level and quality of cash flow and same property NOI; Debt to EBITDA <7.0x • Development starts of $100 to $200 million focus on medical office and Build-to-Suit • Total portfolio occupancy as of March 31, 2011 of 88.9%; industrial portfolio at 90.2% • More than 5.3 million square feet of leases completed; in-line with Q1 2010 volume of 5.5 million square feet • Debt to EBITDA @ 6.7x;<6.0x by 2013; 0.9% Same Property • One medical office development project started during quarter • Continue strong momentum from 2010 on repositioning of portfolio • Pursue acquisitions of medical and industrial assets • Planned asset dispositions of primarily Midwest office • Closed on remaining $173 million of Premier assets (final closing in April) • Asset dispositions totaled $456 million, including completion of $274 million CBRERT transaction • Opportunistically access capital markets . . . push out maturity schedule further • Continue improving our coverage ratios • Maintain minimal balance on line of credit • Retired $42.5 million of unsecured bonds • Fixed charge ratio of 1.81x • Zero balance outstanding on line of credit, $167 million cash Asset Strategy Operations Strategy Capital Strategy Executing across all three aspects of our strategy 5 |
 2011 Duke Realty Corporation ASSET STRATEGY 6 |
 Depth & experience of team = Consistent execution 7 Proven Performance ASSET STRATEGY Flex disposition $1 Billion 2005 2006 Savannah Washington DC 2007 Healthcare 2009 Asset Strategy 2010 Dugan CBRERT Premier 2011 Duke Realty Corporation |
 8 Portfolio Strategy BY PRODUCT 2009 2013 BY GEOGRAPHY Q1 2011 ASSET STRATEGY 2009 2013 Q1 2011 Southeast 21% Southeast 27% Southeast 30% 2011 Duke Realty Corporation |
 2011 Duke Realty Corporation 9 Asset Strategy: Road Map ($ in millions) Investment 9/30/09 Investment 3/31/11 ACTION PLAN Investment 2013 PRODUCT TYPE Amount % Amount % Proceeds from Targeted Dispositions Acquisitions/ Developments/ Repositioning Amount % Industrial $2,930 36% $3,650 45% ($55) $1,250 $4,920 60% Office 4,515 55% 3,750 46% (500) (810) 2,050 25% Medical Office 440 5% 520 6% 0 730 1,230 15% Retail 290 4% 280 3% (305) 0 0 0% $8,175 100% $8,200 100% ($860) $1,170 $8,200 100 % REGION Midwest $4,310 53% $3,960 48% ($530) $125 $3,280 40% Southeast 1,755 21% 2,250 27% (165) 150 2,460 30% East 1,035 13% 975 12% (120) 355 1,230 15% South 970 12% 950 12% (45) 200 820 10% West 105 1% 65 1% 0 340 410 5% $8,175 100% $8,200 100% ($860) $1,170 $8,200 100% ASSET STRATEGY Significant progress to date… on target to meet 2013 goals |
 2011 Duke Realty Corporation OPERATIONS STRATEGY 10 |
 11 Focus on Fundamentals LEASING OF PORTFOLIO STRATEGIC NEW DEVELOPMENT AND LAND DISPOSITION AFFO PAYOUT OPERATIONS STRATEGY Maximize return on assets 2011 Duke Realty Corporation |
 2011 Duke Realty Corporation 12 OPERATIONS STRATEGY Portfolio Occupancy 2011 Guidance: Average Occupancy 87.5% to 90.5% • Occupancy at March 31, 2011 at 88.9% • Managing through anticipated tenant terminations • Upside to guidance from lease-up of portfolio and renewals Unstabilized Portfolio Significant progress on lease-up since March 31, 2010 • Original portfolio was comprised of 48 buildings totaling 11.8 million square feet that were 59.2% leased at March 31, 2010 • Progress to date: 12 buildings have been leased-up to at least 90% occupancy or have been sold Original portfolio is 77.9% leased as of March 31, 2011 • Current portfolio comprised of the following: Industrial: 16 projects, 5.7M square feet, 70% leased Office: 8 projects, 8.6M square feet, 57% leased Retail: 6 projects, 1.2M square feet, 85.2% leased Same Property NOI 2011 Guidance: 1% to (3%) • Same property net operating income increased by 0.9% over the twelve months ended March 31, 2011 • Results in Q1 in line with expectations Recurring AFFO Payout Ratio 2011 Guidance: 85% to 100% • Annual dividend of $0.68 • 2011 components of AFFO reflect current environment: Recurring capital expenditures $85 million to $100 million Straight line rent adjustment $20 million to $25 million Non cash interest expense $15 million to $20 million • Property level AFFO a critical metric for our business; part of compensation performance criteria 2011 Performance Metrics Company performance goals and objectives aligned with key operational success factors |
 Operations Strategy: Consistent Operating Performance Stabilized Occupancy (%) Strong historical stabilized occupancy – fundamentals improving Lease Renewals (%) Strong lease renewal percentages Stabilized occupancy In-service occupancy 80% 72% 79% 77% 2007 2008 2009 2010 YTD 2011 70% 29.9 21.4 22.7 25.9 2007 2008 2009 2010 YTD 2011 Leasing Activity New Leases and Renewals – Consistent Execution (in millions of square feet) Lease Maturity Schedule Lease maturities are well balanced with no one year accounting for more than 13% 95% 92% 92% 89% 88% 89% 89% 89% 89% 87% OPERATIONS STRATEGY 5.3 Demonstrated ability to maintain consistency through difficult operating environments 13 |
 2011 Duke Realty Corporation 14 New, High Quality Portfolio with Long-term Leases Bulk Industrial Suburban Office Medical Office Property age 10.1 years 11.7 years 2.0 years Property size 212,000 SF 118,000 SF 97,000 SF Lease term 7.0 years 7.2 years 11.7 years Tenant size 70,000 SF 12,000 SF 11,000 SF OPERATIONS STRATEGY |
 2011 Duke Realty Corporation 15 December 31 Historical Focus on Occupancy OPERATIONS STRATEGY |
 2011 Duke Realty Corporation REGIONAL MARKET OVERVIEWS 16 |
 2011 Duke Realty Corporation RECENT TRANSACTIONS 17 Midwest Renewal Industrial Hebron I - Cincinnati 646,000 SF 100% leased New Lease Office Atrium II - Columbus 121,000 SF Tenant: Alcatel - Lucent MARKET OVERVIEW & KEY POINTS Strong distribution base: Over 30% of U.S. population within one day’s drive 74 Fortune 500 headquarters High growth and return opportunities, particularly in Chicago, Columbus, and Indianapolis Duke Realty’s roots and a position of strength Original location – since 1972 Low cost basis product Dominant market position 48% of our total investment Committed to Midwest because we perform… Remains a key component to our strategy Disposition - Office (CBD) 312 Elm & 312 Plum Cincinnati 609,000 SF MIDWEST OVERVIEW |
 18 Midwest Overview Location Product Type Industrial Office Average Age 11.6 years 16.3 years Average Building Size 236,000 SF 130,000 SF Total Square Footage 51.5 million 16.4 million Current Occupancy 93.0% 84.4% Indianapolis 96.7% 86.5% Chicago 96.1% 88.6% Cincinnati 86.4% 82.5% St. Louis 88.6% 79.5% Columbus 96.2% 82.0% Minneapolis 84.5% 96.8% MIDWEST OVERVIEW Note: All information as of March 31, 2011 2011 Duke Realty Corporation |
 2011 Duke Realty Corporation RECENT TRANSACTIONS 19 Southwest Acquisition - Industrial Estrella Buckeye – Phoenix 250,000 SF 100% Leased Disposition Office Lakeview office assets- Nashville 379,000 SF MARKET OVERVIEW & KEY POINTS Duke Realty presence since 1999 (Weeks merger) 52 Fortune 500 headquarters Demographic drivers: modern transportation and infrastructure, population and job growth Strong industrial demand expected post-recovery Port, inland port and logistics key for bulk distribution markets 13% of our total investment Expand industrial presence by pursuing select acquisition opportunities in Houston, Phoenix and Southern California New Development - Industrial Westland II Houston 300,000 SF 73% Leased SOUTHWEST OVERVIEW |
 20 Southwest Overview Location Product Type Industrial Office Average Age 8.6 years 6.5 years Average Building Size 256,500 SF 108,600 SF Total Square Footage 20.0 million 2.1 million Current Occupancy 85.6% 91.9% Dallas 83.8% 83.3% Nashville 80.9% 95.0% Houston 98.0% 100% Phoenix 97.1% N/A SOUTHWEST OVERVIEW Note: All information as of March 31, 2011 2011 Duke Realty Corporation |
 2011 Duke Realty Corporation RECENT TRANSACTIONS 21 East & Southeast Overview Acquisition – Office/Industrial Premier Portfolio - South Fl 4.9 million SF MARKET OVERVIEW & KEY POINTS Strong presence: entered Southeast in 1999 (Weeks merger) and East in 2006 (acquisition of Winkler portfolio) 15 Fortune 500 headquarters East and Southeast cities among top growth markets in country… strong in-migration Diversified economies; Government, healthcare, finance and education Eastern cities maintained highest employment rate through downturn Atlanta and Northeast corridor strong in bulk industrial 39% of our total investment New Leases - Office 3630 Peachtree – Atlanta Currently 44% leased EAST & SOUTHEAST OVERVIEW |
 22 East and Southeast Overview Location Product Type Industrial Office Average Age 8.8 years 9.7 years Average Building Size 225,000 SF 110,000 SF Total Square Footage 26.9 million 13.7 million Current Occupancy 89.0% 88.5% Atlanta 85.2% 87.3% South Florida 80.5% 89.2% Raleigh 98.1% 89.5% Washington D.C./Baltimore 94.2% 90.9% Central Florida 91.0% 85.4% Savannah 88.7% NA EAST & SOUTHEAST OVERVIEW 2011 Duke Realty Corporation |
 2011 Duke Realty Corporation MEDICAL OFFICE OVERVIEW 23 |
 24 Portfolio Strategy BY PRODUCT 2009 2013 BY GEOGRAPHY 2009 2013 Focus on “core” assets (on-campus) Focus on national and regional Hospital system relationships Focus on Duke Realty office locations Focus on demographic healthcare growth cities MEDICAL OFFICE OVERVIEW 2011 Duke Realty Corporation |
 PIEDMONT ATLANTIC Atlanta* Birmingham Charlotte Nashville* Raleigh* NORTHEAST Baltimore* Boston Philadelphia Richmond Washington, D.C.* GREAT LAKES Chicago* Columbus* Indianapolis* Louisville Minneapolis* St. Louis* FLORIDA Jacksonville Miami Orlando* Tampa* GULF COAST ARIZONA SUN CORRIDOR NORTHERN CALIFORNIA SOUTHERN CALIFORNIA CASCADIA Megaregions by 2050: Populations in contiguous regions with major cities that produce more than $100 billion in goods and services. Mega-regions will drive need for healthcare, transportation infrastructure and jobs through 2050 Duke Realty Markets: Demographic Focus * Duke Realty market Map Source: ATLANTA REGIONAL COMMISSION MEGAREGIONS REPORT MEDICAL OFFICE OVERVIEW TEXAS TRIANGLE Austin* Dallas * Houston* San Antonio 2011 Duke Realty Corporation 25 |
 2011 Duke Realty Corporation 26 Healthcare Data Points The nation’s largest industry • Represents more than 17% of GDP, predicted to exceed 23% by 2020 • Americans spend more than 5% of pre-tax income on healthcare. Lower income brackets pay 15% or more ($7,800 per capita health expenditures in 2008/2009) Reform • Increased number of people insured expected to increase by 30 to 50 million – increased demand for care • Number of physicians will increase – more space demand • Hospitals expect margin pressure and need to increase market share – Hospitals seeking capital partners for “non-core assets” • May reduce reimbursements – real estate efficiency a priority – larger deals and floor plates As many as 40% (20% now) of primary care physicians and 24% (10% now) of specialists will be employed by hospitals by 2012 – more Hospital credit on leases MEDICAL OFFICE OVERVIEW |
 2011 Duke Realty Corporation CAPITAL STRATEGY 27 |
 2011 Duke Realty Corporation 28 Key Metrics & Goals 2009 Actual 2010 Actual Q1 2011 Actual Goal Debt to Gross Assets 44.5% 46.3% 46.1% 45.0% Debt + Preferred to Gross Assets 54.9% 55.5% 55.3% 50.0% Fixed Charge Coverage Ratio 1.79 : 1 1.79 : 1 1.81 : 1 2.00 : 1 Debt/EBITDA 6.65 7.31 6.66 < 6.00 Debt + Preferred/EBITDA 8.47 8.88 8.20 < 7.75 CAPITAL STRATEGY Progressing toward strategic plan goals |
 2011 Duke Realty Corporation 29 CAPITAL STRATEGY Current Liquidity Position $934 $256 $516 $310 $1,644 $460 $332 $632 $351 $2,335 $0 $1,000 $2,000 $3,000 2011 2012 2013 2014 Thereafter Debt Maturity and Amortization Schedule ($ in millions) 3/31/2009 3/31/2011 • Provide for $290 Million 2011 Unsecured Bond Maturities $122 million due 8/15/11 $168 million due 12/1/11 |
 2011 Duke Realty Corporation KEY TAKEAWAYS 30 |
 2011 Duke Realty Corporation 31 2010 Accomplishments and 2011 Opportunities Drive Shareholder Return 2010 2011 Capital Strategy Raised nearly $1.1 billion of capital Executed Capital Strategy in alignment with operating and asset strategy Operating with minimal balance outstanding on our line of credit 2011 maturities provided for Opportunistically access capital markets . . . push out maturity schedule further Continue improving our coverage ratios Maintain minimal balance on our line of credit Operating Strategy Reduced operating overhead 6.5% Leased nearly 26 million square feet Maintained high tenant retention @ 77% renewal rate Achieved strong service operations performance Achieved $130 million development starts at attractive yields; 40% of investment medical office Balance capital strategy relative to level and quality of cash flow and same property NOI Maintain fixed charge coverage above 1.75x and Debt/EBITDA below 7.0x Lease-up portfolio; manage cap ex; reach positive same property income growth Development Expertise Third party volume totaled $619 million and exceeded budget by $57 million Increase our new development starts to $200 million Asset Strategy Made significant progress on strategic plan Continue making significant progress on strategic plan RELIABLE. ANSWERS. |
 32 WHY DUKE REALTY? Quality portfolio improving with asset strategy Solid balance sheet improving with capital strategy Unmatched ability to execute on daily operations Development capabilities in place with existing land bank Talent and leadership depth to execute RELIABLE. ANSWERS. 2011 Duke Realty Corporation |
 RELIABLE. ANSWERS. 2011 Duke Realty Corporation 33 2011 Range of Estimates 2011 RANGE Metrics 2010 Actual Pessimistic Optimistic Key Assumptions Core FFO Per Share $1.15 $1.06 $1.18 AFFO Payout Ratio 89% 100% 85% • Annual dividend maintained at $0.68 per share Average Occupancy 88.2% 87.5% 90.5% • First half expirations cause dip in occupancy • Upside to guidance driven by higher occupancy • Downside assumes “worst case” scenario from unknown bankruptcies, defaults and terminations Same Property NOI 0.9% (3.0%) 1.0% • Rental rate pressure remains • Coming off higher year Building Acquisitions $919 $200 $400 • Aligned with long-term strategy • Focus on industrial and medical office • Includes $173 million remaining acquisition of Premier Building Dispositions $499 $400 $600 • Strong backlog of non-strategic assets under contract • 2011 pipeline consists primarily of office product • Includes $275 million sale to CBRERT Land Dispositions $35 $20 $50 • Selling identified non-strategic parcels • Local market demand still sluggish Construction and Development Starts $313 $200 $400 • Anticipate medical office starts in the $75 million to $125 million range • Remaining starts from industrial build-to-suit and third party construction Construction Volume $751 $600 $800 • BRAC volume consistent with 2010 General and Administrative Expenses $41 $45 $40 • 2011 total overhead expenses flat • No severance costs in 2011 guidance Leasing actions continue to drive upside |