LN Explores Shed Sale

Live Nation is exploring the possibility of selling the Verizon Wireless Music Center in Noblesville, Ind., but it isn’t the dire scenario the local press has reported it to be.

Real estate firm CB Richard Ellis is handling the sale of the venue, which could mean the end of concerts at the 25,000-capacity amphitheatre, according to the Indianapolis Star.

Company first vice president Nick Arterburn was quoted as saying LN was looking to sell to the highest bidder for what was originally known as the Deer Creek Music Center. It is the first shed owned by SFX when Robert Sillerman bought Sunshine Promotions as his second move in creating his concert giant.

“We’re not against selling it to another entertainment group … as long as they are the entity that pays us the most money,” he told the paper.

Live Nation spokesman John Vlautin confirmed to Pollstar that CB Richard Ellis is looking into the deal but said nothing is written in stone.

“We are continually evaluating our real estate holdings on a national basis and our decision to look into a sale at this time is based on a number of factors including the potential revenue the sale would generate,” Vlautin said in a statement.

“Regardless of whether a sale is completed or not, we are committed to the 2007 concert season and will continue bringing fans the same great music and customer service they have come to expect.”

The area near the shed is reportedly one of Indianapolis’ prime locations for commercial development. If LN does decide to sell, Arterburn said the transaction probably wouldn’t be completed until summer, according to the Star.

Verizon Wireless Music Center hosted concerts including Insane Clown Posse, Aerosmith / Mötley Crüe, Toby Keith, Roger Waters, and the “Family Values Tour” during the 2006 season.

– Tina Amendola