Portland, OR Doom Loop ACCELERATES with Foreclosure Starting on "The Black Box"

Downtown Portland's commercial real estate crisis deepens as the iconic "Black Box" building at 200 S.W. Market St. faces foreclosure. After anchor tenant Regence Blue Cross Blue Shield of Oregon downsized its office space by 50%, the building's owner fell behind on a $63 million loan from MetLife. Now, the lender is suing for foreclosure and seeking control of the property.