PORTLAND-The 488,000-sf first phase of Rivergate Corporate Center has secured its first tenant, according to Trammell Crow Co., which is overseeing development and leasing of the project, which is owned by Multi-Employer Property Trust, a $3-billion collective investment fund whose primary beneficiaries are union pension funds.

Schneider Resources Inc., a division of Green Bay, Wis.-based freight hauler Schneider, has leased 50,000 sf in a 150,000 sf building, TCC's John Fettig tells GlobeSt.com. Schneider will employ 16 people who will use the space to store and distribute automobile parts and related components.

The rest of the first-phase space is in a 338,000-sf building. Both shells, featuring a 35-foot clear height, were recently completed by general contractor Perlo McCormack Pacific. Asking rates are 34 cents per sf for warehouse and 65 cents per sf for the office space surcharge.

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