Perspectives
- During the first half of this year, there has been an emergence of warehouses with high specifications due to some logistics operators vacating facilities to consolidate their operations in previously occupied warehouses.
- Developers remain focused on customized constructions and executing contracts for standard warehouses in their industrial parks.
- There has been observed slow absorption, particularly of large warehouses ranging from 5,000 to 10,000 sqm, which last year had high demand from companies. There is a preference noted for smaller areas both for sale and for rent.
Current conditions:
- Net absorption for the first quarter is –25,918 sqm, significantly lower than the 246,000 sqm recorded in the same period in 2023.
- The availability rate closed at 4.3%, a decrease of 0.1 percentage points compared to 2023.
- Prices continue to rise; the rental price closed at COP $25,100 for Class A and COP $20,050 for Free Trade Zones.
- Speculative construction projects remain scarce.