Capstone Partners‘ Custom Blocks project has gained its first tenant.

Archrival, an advertising agency with a focus on youth culture, will lease 5,000 square feet at the southwest corner of the development located at 1350 S.E. 10th Ave. in Portland’s Central Eastside Industrial District.

Custom Blocks encompasses 72,000 square feet of commercial space formed from eight separate buildings. Capstone Partners hired Scott | Edwards Architecture to design a renovation to join the structures on two blocks.

Core and shell completion is on track for late February or early March.

The North Block contains 22,790 rentable square feet; spaces range from 1,200 square feet to 10,000 square feet, including 7,111 square feet for a brewery, production kitchen or event space.

The South Block is 48,804 square feet, with spaces available from approximately 9,000 square feet to 23,000 square feet.

Capstone and Premium Property USA are partners in the joint venture.

Rob Moneyhan of Urban Works Real Estate represented Archrival in the lease negotiations. Brad Carnese, Mark Carnese and Doug Deurwaarder of Cushman & Wakefield represented Capstone and Premium Property USA.

Archrival has worked with advertisers such as Red Bull and Adidas. The agency currently operates out of Washington High School and expects to move to Custom Blocks by July, according to a news release.

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