DID YOU KNOW?
Slabtown gets its name from a byproduct of lumber. When timber is shaved down into lumber, the rough edges are removed. This is called “slab.” Residents of the area in the early 20th century would use these slabs for firewood, thus creating “Slabtown.”
Portland’s hottest neighborhood just got a new office tenant: This year, athleisure retailer Lululemon signed a lease at “make,” an office building in the heart of Slabtown. With proximity to major transportation routes, this neighborhood is attractive for a variety of reasons: location, views, and tons of activity. There are more than 50 restaurants and stores activating the immediate area, making it attractive for office tenants and nearby residents.
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The evolution of Slabtown from an industrial yard to premier residential neighborhood, replete with restaurants, New Seasons, and creative offices, is a model for other neighborhoods on the perimeter of urban centers. Lululemon recently leased space in newly renovated “make,” staking a claim to one of Portland’s most active neighborhoods and assuring them access to highly educated talent and premier neighborhood amenities like 38 Jack, Besaws, Grassa, Breakside Brewery, and New Seasons.
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Median household income
(the largest income group is $100k-$149k, making up 1/5 of residents)
Population in this submarket has doubled in 10 years, to 5,000 as of 2020
Average age of Slabtown residents
of Slabtown residents have graduate degrees
Lululemon will be able to take advantage of the surplus of apparel talent in the Portland region, like Adidas, Nike, Underarmour, Saxx, OnFootwear, Icebreaker, and many others. As a company, Lululemon has high expectations. GlobalData is bullish on Lululemon’s future. Compared to 2019, sales in the first quarter were up 57% for Lululemon, or $440 million in real terms, reflecting consumer’s desires for high-quality and stylish athleisure wear. The company successfully captured market share during the pandemic and appear ready to continue their upward trajectory.
73% of apartments in Slabtown have been built since 2010. These buildings have been quick to find happy tenants with 90% of units being taken.
Since 2010, more than 500,000 sq. ft. of office space was renovated and became competitive supply for office users.
The George Besaw
The Derby Slabtown
Apartment Units Built in Slabtown Since 2015
With a unique mix of walkable streets, trendsetting shops, and acclaimed restaurants, Slabtown is home to local favorites such as:
New Apartments and Absorption
New or Converted Office Supply