Market Review
Bogotá is the main logistics and industrial center of Colombia, both because of its strategic location in respect to other cities and the size of its economy and market potential.
Like most markets around the world, the health crisis in Bogotá caused a jump in demand for logistic assets resulting in low vacancy levels and stable rent prices in the industrial and logistics real estate market during 2020. This trend continued throughout the first half of 2021: the market vacancy rate on average was 5.1%, translating to approximately 270,000 m2 of vacancies.
In terms of rent prices, the highest rents are found in the urban submarkets. the highest rent prices on the market are in the Álamos submarket, even though assets in this area are Class B and C, the rents are around 31.000 COP/m2/month. Of the suburban submarkets, Calle 80 has the highest rent prices. This submarket has expanded greatly thanks to improvements in the road and transportation infrastructure, tax incentives, its proximity to the city and the lack of toll roads. The rents in this sub-market vary between 13,000 COP / m² / month for class B assets and 19,000 COP / m² / month for class AAA assets.