The U.S. Postal Service has allegedly defaulted on more than $71,000 in rent payments and faces an imminent exit from space in a Richmond Highway retail center in Northern Virginia.
Its landlord, an affiliate of Federal Realty Investment Trust (NYSE: FRT), alleges the USPS has failed to pay its share of the real estate taxes and common-area charges for its space at the Shoppers-anchored Mount Vernon Plaza. Federal Realty sued in the U.S. Court of Federal Claims on Thursday seeking the unpaid rent and a court judgment that the USPS has defaulted on its lease for roughly 21,392 square feet of rentable floor space and exterior parking at 7676 Richmond Highway in Fairfax County.
Despite repeated notices, including a September default letter sent via USPS Priority Mail Express, Federal Realty claims the Postal Service has not responded, according to court records. It has until Feb. 28 to vacate the space under the terms of an amended lease that dates back to 2007. Federal Realty sued for declaratory relief, breach of contract, unjust enrichment, breach of covenant of good faith and fair dealing, promissory estoppel, and equitable estoppel.