Koontz McCombs is planning to build a new office park in Northwest Austin. The new 350,850 sf office development will called Paloma Ridge, and will be located along SH 45 between Lake Creek Pkwy and West Parmer Lane.
This office building development is announced as office vacancy rates in Northwest Austin continue to decrease and rental rates increase. The vacancy rate in NW Austin is currently 13%. Rental rates are much more expensive the closer you get to Austin's core, so these new office buildings will be a great alternative for companies who are opting to expand to North and Northwest Austin.
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