September 13, 2018
Ascentris LLC, which developed and owns Paloma Ridge in northwest Austin, has plans to expand the size of the office complex. The Denver firm plans to launch construction on an additional 160,000 square feet beginning in early 2019. Upon completion, the three-building asset at 13620 Ranch Road 620 will total 371,000 square feet.
Ascentris acquired the property in late 2017, when occupancy stood at 70%. Stream Realty brokers Edvin Beasley and Scott Deskins found tenants for the vacant space in an eight-month time frame, which was a quicker-than-expected turnaround, Ascentris’ Jake Rome told the Austin Business Journal.
Sixthriver Architects, designer of the first two Paloma Ridge buildings, is the architect for building number three. Hoar Construction is the general contractor and Big Red Dog is the engineer. Rome told the Business Journal it is continuing to seek out investment, development and redevelopment opportunities in Austin.
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