With a $72 million loan on its back and foreclosure looming, the owner of Regency Square Mall has given the property back to its lender. But the firm still owns another mall in Richmond.
Despite having a profitable year so far, the owner of Regency Square has decided to stop paying its mortgage on the West End mall.
Dozens more retailers have disappeared from local malls in the past six months. About 15 percent of the storefronts in Richmond’s six largest malls are vacant.