The Dehen Building
Well-Maintained Historic Office Property In Portland's Coveted Pearl District
Marketing description
UNPARALLELED LOCATION
► Pearl District Neighborhood – A Hub of Culture and Convenience | The Pearl District is more than just a location; it’s a lifestyle. This vibrant neighborhood has undergone a remarkable transformation from its industrial roots into a thriving urban center. Known for its artistic vibe, the Pearl District boasts numerous art galleries, studios, and public art installations, fostering a creative and engaging atmosphere. Residents and employees alike enjoy a dynamic environment filled with cultural events, performances, and a strong sense of community. The neighborhood’s architecture is also a major draw, with a blend of historic industrial buildings beautifully converted into modern lofts, offices, and retail spaces, giving the area a unique character and charm.
► Social Demographics | The Pearl District attracts a diverse and affluent population, contributing to a dynamic social fabric. The neighborhood is home to a mix of professionals, artists, entrepreneurs, and families, creating a vibrant community. The high concentration of young professionals and a strong presence of a creative class contribute to a forward-thinking and innovative atmosphere. The median household income reflects the neighborhood’s affluence, which provides a strong customer base for local businesses and a desirable environment for tenants. This demographic profile reinforces the Pearl District’s reputation as a premier location for businesses and residents, providing a strong foundation for long-term investment stability.
► Strategic Market Positioning | While the Portland office market is currently facing headwinds with rising vacancy rates and negative net absorption particularly in areas south of Burnside, the desirable Pearl District submarket, where 404 NW 10th Ave is located, is well-positioned for future growth. The area’s limited new construction and strong demand for prime locations should help to support and stabilize values over the long term.
Investment highlights
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EXCEPTIONAL MARKET FUNDAMENTALS
► Proximity to Residential and Hospitality Amenities | The property’s location in the Pearl District offers the unique advantage of being surrounded by a variety of residential and hospitality amenities, further enhancing its appeal. The area is home to numerous multi-family apartment and condominium developments, including notable properties like The Gregory and The Elizabeth. This close proximity to a large residential base provides a readily available pool of potential employees and customers for businesses located in the building. The presence of a robust residential community contributes to a vibrant, 24/7 atmosphere, making the Pearl District a desirable location for both work and leisure.
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