Portland’s commercial real estate crisis has arrived at the door of one the city’s most storied developers.
Metropolitan Life Insurance Company sued John W. Russell for breach of contract on a $63 million loan for the “Black Box,” a 390,000-square-foot office building at 200 SW Market St. that sits atop a retail plaza like a black obelisk.
MetLife, based in New York, filed its suit in Multnomah County Circuit Court on June 23. It seeks a judicial foreclosure…