The Norfolk Virginian-Pilot reported producer Teddy Riley's abandoned Future Records Recording Studios burned down Tuesday morning.

Riley has had financial and legal problems in recent years, owing about $1 million earlier this year. He also had defaulted on a loan against the studio.

Lawyers agreed in February to seek a buyer for the 3,300-square-foot studio and late last month, an auction was held to sell the building, but no one met the opening bid of $500,000, the Virginian-Pilot said.

The cause of the blaze was still under investigation, fire officials told the newspaper.