Duke Realty Announces Leadership Changes

INDIANAPOLIS - January 19, 2022 - Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces Chris Burns has been promoted to executive vice president, Real Estate Operations at Duke Realty. Additionally, Nancy Shultz is now regional president of the Western Region, Chris Brown is now regional president of the South and Central Region and Art Makris is now regional president of the Northeast Region. Shultz, Brown and Makris will manage their respective region operations and report directly to Chris Burns in his new role.

"Chris Burns has proven experience as an industry leader and invaluable depth of company knowledge gained over his 18 years with Duke Realty," said Steve Schnur, chief operating officer at Duke Realty. "Additionally, through Nancy, Chris and Art's leadership, the company's portfolio has experienced unprecedented growth and success. Their promotions are well-deserved, and this realignment of markets will strengthen our strategic growth initiatives across our 19 markets."

Prior to his promotion, Chris Burns oversaw the West and Central Regions for Duke Realty where he was responsible for the operations of 10 logistics markets, which included personnel, leasing and development and investment activities. In addition, he is a member of the company's Executive, Investment and Operating Committees. Previously, Burns served as senior vice president of Duke Realty's California and Seattle operations. He was instrumental in establishing Duke Realty's presence in the Western United States, growing its portfolio to more than 25 million square feet primarily through development. Prior to joining Duke Realty in 2004, Burns worked in commercial banking for Fifth Third Bank in Cincinnati. He earned his bachelor's degree in Finance from the University of Louisville and his master's degree from the University of Cincinnati.

Nancy Shultz was previously the regional senior vice president responsible for the profitability of Duke Realty's Southern California operations, including the oversight of its existing portfolio and its growth through new development and investment opportunities. Shultz is a 17-year commercial real estate veteran, joining Duke Realty after serving as senior vice president of Capital Deployment for Dermody Property's Southwest Region and vice president of Capital Deployment at Prologis and AMB Property Corporation. During her tenure with these companies, she completed more than $1.5 billion of building and land transactions. She earned her bachelor's degree in Accounting from Mississippi State University and her Master of Business Administration from UCLA.

Chris Brown joined Duke Realty in 1996 as a financial analyst. Since joining he has served in a variety of roles and continued to grow his career. In 2009, he took the leading role in Duke Realty's Savannah portfolio and its Atlanta suburban office portfolio and eventually leading the company's operations in Georgia, Florida and three Mid-Atlantic markets as regional senior vice president. Before joining Duke Realty, Brown was a senior real estate consultant and tax accountant with Arthur Andersen, LLP. Brown earned his bachelor's degree in Business Administration from the College of William and Mary.

Art Makris joined Duke Realty in 1997 as a property manager and leasing representative for the company's Cleveland Industrial Group. He continued to advance his career in the company's Ohio markets and in 2006, he was promoted to vice president of Industrial Leasing, leading the development of Park 70 at West Jefferson and Rickenbacker Global Logistics Park. After overseeing the company's Columbus, Cincinnati and Nashville offices as a market leader, he was promoted the role of regional senior vice president of Duke Realty's Northeast Region. Makris earned his bachelor's degree in Business Administration from Miami University.