Would embattled Emmis Communications Corp. sell its Monument Circle headquarters, a prized development that opened a decade ago at what then-Mayor Steve Goldsmith called "the most important site in the city and the very center of Indiana?"

The Jefferson Plaza renovation, which has been renamed Allen Plaza after its developer, will include restaurants, office space, condos, and is also working to achieve LEED environmental certification.

DBSI, an Idaho real estate firm with 250 properties worth $2 billion faces a class-action suit. Some of its properties and investors are in Indianapolis.

A local real estate developer has emerged as a top contender to buy the 28-story M&I Plaza--potentially at half the $50 million price the building fetched a decade ago. Paul Kite Co. confirmed it is in talks with Maryland-based CapitalSource Inc., which took over the struggling office tower in June after foreclosing on a $5 million mezzanine loan.

Insurance giant Safeco Corp. is expected to either vacate or scale back its downtown operation next year--a move that could deal a major blow to the office market. At stake are about 700 downtown jobs, some or all of which could be eliminated or shifted to the suburbs. A final decision about the fate of Safeco's five-building downtown office complex likely will come after Boston-based Liberty Mutual completes its $6.2 billion acquisition of Seattle-based Safeco.