Urgent Legal Battle Erupts as Riverfront Plaza Faces Foreclosure Risk amid Tenant Lease Expiration
Richmond, Virginia — The Riverfront Plaza office complex faces a potential foreclosure following a lawsuit filed against its owner, Hertz Investment Group. With a crucial lease for one of its primary tenants nearing expiration, the situation has escalated as financial struggles continue to plague the nearly 1 million-square-foot property. Wells Fargo, representing the noteholders for Riverfront Plaza, filed the lawsuit on August 11 in Richmond Circuit Court. The financial institution is seeking over $131 million in damages and aims to appoint a receiver to take control of the management of the property, located at 901-951 … Read more