The Murat Temple Association, a Shriners affiliate that owns the iconic building, is suing Live Nation and Old National Bank
over a naming-rights deal announced March 16.
A 10-year, $20 million deal for a civilian division of the U.S. Marine Corps to occupy four floors of the 28-story M&I
Plaza building downtown will push
the city’s sixth-largest office tower from a woeful 30-percent occupancy rate to about 50 percent.
The Music Mill, a local concert venue, restaurant and bar that has been closed down twice this year by different operators,
has new life. Local entrepreneur Ravi Chopra, 44, who owns the 6 Lounge & Restaurant downtown, announced last
night that he has purchased the Music Mill and plans to reopen it Oct. 12.
Few commercial real estate properties are changing hands in the Indianapolis area these days, creating challenges for brokers who say it’s becoming increasingly difficult to determine the value of properties.
Some of the city’s most prominent commercial real estate brokers have resigned from locally owned Meridian Real Estate to
launch an Indianapolis affiliate of Chicago-based Jones Lang LaSalle.
Blue Real Estate, a California firm that made a bundle selling West Coast office buildings at the market’s peak, has been
buying up local buildings and trying to learn the Indianapolis market.
The new, $1.1 billion terminal at Indianapolis International Airport likely won’t house as many airport employees as the existing
facility. Instead, portions of the terminal are being set aside for their revenue-generating potential.
Eli Lilly and Co. has decided to vacate 99,000 square feet of office space at 30 S. Meridian St. in yet another blow to the
struggling downtown market. Roughly 1.8 million square feet of space already is sitting idle downtown, putting downward pressure