Colombia - 2022
Market Survey
JLL
Medellin
Barranquilla
Cali
About JLL
Global presence
Awards
Why JLL
Our services
Transactions
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 98,000 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.
A Company
Fortune 500
With presence in +80 countries
93.000
R.E. Professionals
102+
JLL employees
Full Service Office
Bogotá
Key Markets
Bogotá - Medelllín - Cali - Barranquilla -Bucaramanga
Global presence
Colombia overview
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?
We are global and local
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.
Customized solutions
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.
100% JLL inc.
Unlike franchises or joint ventures with a local brokerage firm.
Integral service
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.
Good practices
Recognized for ten consecutive years as the most ethical real estate services company in the world.
Long term relationships
We work collaboratively with our clients and establish long-term relationships, continuously delivering results and being their strategic partners.
Transactional approach
Our transactional approach is based on consulting, guaranteeing full market coverage, as well as the reduction of conflicts of interest.
Our Services
Transactions

Proyect Management

Facilities Management

Portfolio Management / Workplace
Transactions Services
Landlord representation for commercial strategies creation and implementation.
Asset Services
Optimized search for commercial properties to lease or buy.
Analysis of alternatives, negotiation process and closure.
Brokerage
Exclusive representation and advisory for real estate strategic decisions.
Analysis and implementation through global integrated services.
Corporate Solutions
Representation of institutional and private investors.
Strategic processes to buy / sell assets.
Capital Markets
Real estate consulting and market research.
Project Structuring, feasibilities and valuation.
Consulting & Valuation
Market Overview
Submarkets
Alternatives
Medellín's office market
Peaking market
Falling market
Rising market
Bottoming market
Decentralized – Non - Prime
$40,000 - $52,000 m²/ month
Decentralized – Prime
$52,000 - $62,000 m²/ month
Rents CBD – Non - Prime
$55,000 - $62,000 m²/ month
Rents CBD – Prime
$62,000 – $77,000 m² / month
2021 Total Stock
888,050
2021 Vacancy Rate
7.99 %
2021 Net Absorption
27,400
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.
Additional information:
CAM: Common area maintenance
*Estimated figures
Market Overview
Submarkets
Alternatives
Barranquilla's office market
Peaking market
Falling market
Rising market
Bottoming market
Rents CBD – Non - Prime
$30,000 - $40,000 m²/ month
Rents CBD – Prime
$45,000 – $55,000 m² / month
2021 Total Stock
232,742
2021 Vacancy Rate
13.83 %
2021 Net Absorption
2,605
Barranquilla office market
Barranquilla Prado: Prado is Barranquilla's traditional Central Business District, and features many of the city's most iconic office towers, hotels, and retail centers such as El Country. Stock: 59%



Barranquilla Buenavista: Buenavista is a recently developed district that has emerged in the boom of the past couple of years, and features brand new hotels, office buildings, retail centers, and residential buildings and communities. Stock: 38%



Barranquilla - Others: Remaining stock for Barranquilla can be found in non-consolidated areas, mainly around Via 40. Stock: 3%
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.
Additional information:
CAM: Common area maintenance
*Estimated figures
Market Overview
Submarkets
Alternatives
Cali's office market
Peaking market
Falling market
Rising market
Bottoming market
Rents – Non - Prime
$30,000 - $48,000 m²/ month
Rents – Prime
$50,000 – $60,000 m² / month
2021 Total Stock
228,196
2021 Vacancy Rate
6.19 %
2021 Net Absorption
-3,299
Cali's office submarkets
Centro: The traditional downtown, which has barely seen new developments in the past decade. Mainly consists of owner-occupied buildings.


Versalles: A newer business district just north of downtown.


Ciudad Jardin: Located in the south of the city.


Others: As in other Colombian cities, decentralized supply (offices outside traditional job centers) has also grown in Cali and now accounts for a fourth of the overall stock.
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.
Additional information:
CAM: Common area maintenance
*Estimated figures