Market Fundamentals
- The logistics and transportation company GEODIS occupied 1,144 sqm in the Bogot谩 Corporate Center, strengthening its presence in the Colombian market.
- Although there is a high demand for offices in the market, the shortage of large spaces in the CBD results in lower occupancy rates than expected.
Outlook
- For 2025, the supply of office spaces is expected to remain stable or even decrease in the CBD corridors, despite moderate inventory growth. Although there are multiple projects in the planning phase, high construction costs and financial conditions have hindered the feasibility of new initiatives, which will prolong the execution times of the works.
- The shortage of large spaces, especially in strategic locations like the CBD, will continue to exert upward pressure on rental and sale prices. This behavior will be driven by tenants’ preference for well-located spaces with specifications that meet new work dynamics.