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One of the area’s largest vacant commercial spaces has finally found a tenant.

, an organic food company, has signed a long term lease to move into 302,765-square-feet of the former Nike Distribution Center in Wilsonville. Pacific Natural Foods will use the space for warehouse and distribution operations.

The space has been vacant since Nike moved in 2007. Pacific Natural Foods will take up 60 percent of the space; the other 40 percent is used by Medline Medical Supplies.

Wilsonville city officials say this is the largest existing building lease transaction to occur in the Portland area in 10 years. The city anticipates the lease will reduce the overall industry vacancy in Wilsonville by 25 percent.

Mark Ottenad, government affairs director for Wilsonville, said the lease will create a large increase in the city’s overall business valuation. He also said it will help from an emergency services perspective, as large vacant buildings can often be at risk for fires.

鈥淲e look forward to finally having that substantial building more occupied and utilized productively,鈥� Ottenad said.

The city also expects 鈥渋ncremental鈥� benefits to local retail and service businesses from the building’s increased occupancy, Ottenad said.

The company is expected to move in September.