BREAKING: Verizon Music Center taken off market

Noblesville’s Verizon Wireless Music Center is no longer for sale and will host a full lineup of shows in 2008, the facility’s general manager, Steve Finkel, told IBJ this afternoon.

Many expected the 2007 season to be the swan song for the popular amphitheater. The venue owner, California-based Live Nation, put the 203-acre property on the block in December.

But as of June, no acceptable offers had been received, and several local brokers told IBJ that the unofficial asking price of more than $40 million was outrageous. Live Nation had sought to capitalize on the rising value of the venue’s land, which once was remote farmland but is now surrounded by development.

For discussion of this story, visit IBJ ‘s real estate blog, Property Lines.

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