Medellín, Colombia - 2022
Market Survey
Market Overview
About JLL
Global presence
Our services
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
JLL is the trade name of, and a registered trademark of, Jones Lang LaSalle Incorporated.

We help maximize the value of your real estate decisions so you can achieve your ambitions, however bold and challenging they may be.
Colombia overview
Bogotá - Medelllín - Cali - Barranquilla -Bucaramanga
Key Markets
Full Service Office
JLL employees
R.E. Professionals
With presence in +80 countries
Fortune 500
A Company
Global presence
Awards and Recognitions
• The International Property Awards named JLL as the best Property Consultant in Central and South America for five consecutive years 2012 – 2017.
• JLL is the only commercial real estate service company to achieve Platinum status as a LEED+C Verified Provider ID
• Argentina, Colombia, Chile and Mexico awarded by The International Property Awards alternately as best Advisor or best Real Estate Property Consultant for five consecutive years 2012 – 2017.
• Latin America JLL No. 1 Real Estate Advisor and Consultant at the Euromoney Real Estate Awards 2016.
• The World's Most Ethical Company by Ethisphere for nine consecutive years 2008 – 2016.
• JLL one of the most admired in the world by FORTUNE 500 magazine in 2008, 2015 and 2017.
• ENERGY STAR Partner of the Year, Sustained Excellence 2013-2016.
• Fortune 500: 2015, 2016, 2017
Why JLL?
Our transactional approach is based on consulting, guaranteeing full market coverage, as well as the reduction of conflicts of interest.
Transactional approach
We work collaboratively with our clients and establish long-term relationships, continuously delivering results and being their strategic partners.
Long term relationships
Recognized for ten consecutive years as the most ethical real estate services company in the world.
Good practices
We work together with a team of multidisciplinary professionals 100% in House and we propose an integrated solution that includes all the services of the real estate process on its different fronts.
Integral service
Unlike franchises or joint ventures with a local brokerage firm.
100% JLL inc.
We have extensive experience in the region while understanding that "there are no universal solutions". We understand the unique needs and characteristics of each company and its culture and translate them into a tailored strategy.
Customized solutions
Our presence at a regional level is added as an advantage to provide clients with the necessary cultural understanding, typical and characteristic of the different countries of Latin America, together with in-depth knowledge of trends and best practices at a global level.
We are global and local
Our Services

Proyect Management

Facilities Management

Portfolio Management / Workplace
Transactions Services
Corporate Solutions
Exclusive representation and advisory for real estate strategic decisions.
Analysis and implementation through global integrated services.
Optimized search for commercial properties to lease or buy.
Analysis of alternatives, negotiation process and closure.
Asset Services
Landlord representation for commercial strategies creation and implementation.
Consulting & Valuation
Real estate consulting and market research.
Project Structuring, feasibilities and valuation.
Capital Markets
Representation of institutional and private investors.
Strategic processes to buy / sell assets.
Bogotá Office Market Overview
Peaking market
Falling market
Rising market
Bottoming market
$45,000 - $56,000 m²/ mes
2,754,905 m²
13.4 %
Q2, 2022 Total Stock
33,997 m²
Q2, 2022 Vacancy rate
Q2,2022 Net Absorption
$68,000 – $92,000 m² / month
USD 16 – 21 m²/ month | Rents CBD – Prime
$58,000 - $70,000 m²/ mes
USD 13 – 17 m²/ month | Rents CBD - Non Prime
$58,000 - $76,000 m²/ mes
USD 13 - 18 m²/ month | Rents Decentralized - Prime
USD 10 – 13 m²/ month
Rents Decentralized – Non Prime
Market Overview
Medellín's office submarkets
Norte Poblado: This submarket includes the whole El Poblado district that is not located in the Golden Mile area. Generally speaking, it includes properties on Avenida Las Palmas, on Avenida Poblado north of Calle 10, and around Ciudad del Rio. This Submarket has 325,202 m2 of stock.

El Poblado, or the "Golden Mile": A high income sector that includes the 'Golden Mile', a commercial corridor along Avenida El Poblado that goes from Calle 9 South to Calle 10 North. This Submarket has a stock of 299,364 m2.

Centro, the old downtown: The city's old business district. Currently, there are a few quality buildings left there. Most of the properties are old, with deficient maintenance and small offices with non-efficient floorplates (B and C classes). This Submarket has 137,632 m2 of stock.

Sabaneta: A new submarket located to the south of the city. There are fewer buildings, but it is a focal point of redevelopment for the city. It has a stock of 84,491 m2.

Other: Another 5% of the stock (41,361 m2) is an isolated, non-consolidated pockets of the city.
Navigation tips in the Market Survey
To view a table with the characteristics of each alternative, click on the round icons located in the map.
To return to the complete comparative table of all the alternatives, click on any sector of the map.
CAM: Common area maintenance
*Estimated figures