FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * NELLEY JOHN W JR   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 __X__ Officer (give title below) _____ Other (specify below) Managing Dir., Nashville Oper. (Last) (First) (Middle) 782 MELROSE AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 02/01/2005 (Street) NASHVILLE,, TN 37211 4. If Amendment, Date 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 (City) (State) (Zip) 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 02/01/2005   M   1,795 A $ 24.98 134,933 D   Common Stock 02/01/2005   M   2,758 A $ 20 137,691 D   Common Stock               2,284 (1) I By 401(K) Plan - A Common Stock               1,941 (2) I By 401(K) Plan - B Common Stock               469 I By NWI XV, L.P. (3) Common Stock               44,629 I By NWI Warehouse Group NV, L.P. (4) Common Stock               6,311 I By the Revocable Inter-Vivos Trust for Lindsay P. Stone (5) Common Stock               5,800 I By the 1987 E.H.W., Jr. Family Trust (6) Common Stock               1,100 I By the Jack Denton Graham Family Trust (7)

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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 Underlying Securities (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 of Derivative Security: 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
Units of Duke Realty Limited Partnership	(8)							07/02/1999	(8)	Common Stock	785,704		785,704	I	By NWI Warehouse Group NV, L.P. (9)
Employee Stock Options-Right to Buy	$ 20.0634							(10)	01/21/2009	Common Stock	55,200		55,200	D
Employee Stock Options-Right to Buy	$ 20	02/01/2005		M			2,758	(11)	01/25/2010	Common Stock	2,758	(11)	0	D
Employee Stock Options-Right to Buy	$ 24.98	02/01/2005		M			1,795	(12)	01/31/2011	Common Stock	1,795	(12)	3,865	D
Employee Stock Options-Right to Buy	$ 23.35							(13)	01/30/2012	Common Stock	10,830		10,830	D
Employee Stock Options-Right to Buy	$ 25.42							(14)	02/19/2013	Common Stock	13,226		13,226	D
Employee Stock Options-Right to Buy	$ 32.51							(15)	01/28/2014	Common Stock	10,345		10,345	D
Phantom Stock Units	(16)							(16)	(16)	Common Stock	6,048		6,048 (16)	D
Phantom Stock Units	(17)							(17)	(17)	Common Stock	3,621		3,621 (17)	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
NELLEY JOHN W JR 782 MELROSE AVENUE NASHVILLE,, TN 37211	X		Managing Dir., Nashville Oper.

Signatures

Valerie J. Steffen for John W. Nelley, Jr. per POA previously filed		02/02/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Between November 4, 2004 and February 1, 2005, the Reporting Person acquired 46 shares of DRE common stock under the Company's 401(k) Plan.
(2)	Between November 4, 2004 and February 1, 2005, the Reporting Person acquired 26 shares of DRE common stock through dividend reinvestment.
(3)	Represents the Reporting Person's beneficial ownership of Shares owned by NWI XV, L.P. ("NWIXV"). In total, NWIXV owns 1,380 Shares.
(4)	Represents the Reporting Person's beneficial ownership of Shares owned by NWI Warehouse Group NV, L.P. ("NWI"). In total, NWI owns 200,000 Shares.
(5)	By John W. Nelley, Jr., as Co-Trustee for the Revocable Inter-Vivos Trust for Lindsay P. Stone. The Reporting Person disclaims any beneficial interest in these shares.
(6)	By John W. Nelley, Jr., as Trustee for the 1987 E.H.W., Jr., Family Trust. The Reporting Person disclaims any beneficial interest in these shares.
(7)	By John W. Nelley, Jr., as Trustee for the Jack Denton Graham Family Trust. The Reporting Person disclaims any beneficial interest in these shares.
(8)	Units of Duke Realty Limited Partnership are convertible on a one to one basis to the Company's common stock and have no expiration date.
(9)	Represents the Reporting Person's beneficial ownership of Units owned by NWI Warehouse Group NV, L.P. ("NWI"). In total, NWI owns 3,521,050 Units.
(10)	The Stock Options vested annually at a rate of 33.33% per year and were fully vested on 1/21/02.
(11)	The Stock Options vested annually at a rate of 20% per year and were fully vested on 1/25/05.
(12)	The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/31/06.
(13)	The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/30/07.
(14)	The Stock Options vest annually at a rate of 20% per year and will be fully vested on 2/19/08.
(15)	The Stock Options vest annually at a rate of 20% per year and will be fully vested on 1/28/09.
(16)	Represents phantom stock units accrued under the Weeks Corporation 1998 Deferred Compensation Plan. Between November 4, 2004 and February 1, 2005, the Reporting Person acquired 80 phantom stock units through dividend reinvestment. The units are valued on a one to one basis to the Company's common stock and are to be settled in cash upon the Reporting Person termination of employment.
(17)	Represents phantom stock units accrued under the Executives' Deferred Compensation Plan of Duke Realty Services Limited Partnership. Between November 4, 2004 and February 1, 2005, the Reporting Person acquired 48 phantom stock units through dividend reinvestment. The units are valued on a one to one basis to the Company's common stock and are to be settled in cash upon the Reporting Person termination of employment.

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