INDIANAPOLIS-Inland American RealEstate Investment Trust has taken over two of the three officebuildings in the Meridian Corporate Plaza here, and has hired JonesLang LaSalle to market the roughly 200,000 square feet. Theproperties include the Lauth Property Group headquarters, but Lauthis moving out after the two former development partners had anunfriendly split last year.

Lauth is fully vacating the 66,000-square-foot Plaza Onebuilding, according to John Robinson, EVP with JLL. The Plaza Twobuilding, at 135,500 square feet, is 96% leased to tenants such asWalker Information and Pillar Insurance, he says. Asking leaserates at the complex are $22 per square foot.

The Inland REIT had invested more than $225 million with Lauthin 2007. However, Lauth struggled with the economy tanked, andcompany subsidiaries filed for bankruptcy. Just recently, the twofirms agreed that the REIT would take over the Plaza One and Twobuildings, while Lauth is keeping the Plaza Three office.