According to Jones Lang LaSalle IP’s ‘Office Market Overview’ for Latin America, supply of new office space in Baranquilla should rise from 19,000 square metres in 2014 to 67,000 square metres in 2015. Expected net absorption is expected to rise from 18,000 square metres to 49,000 square metres. This is in the context of an overall vacancy rate of 7.6% across 136,000 square metres of space at the end of 2014. Class A office rents were USD15-23 per square metre per month.

Source : 31 Mar 2015/JLL/Baranquilla/OFF