Union Investment has signed two leases for a total of 4,855 m² in Hamburg's EMPORIO Tower. Nord Event GmbH has extended its lease for 3,233 m² ahead of schedule. In addition, the real estate service provider CBRE will move from the 16th to the 20th floor at the end of this year and has signed a contract for 1,622 m². The space rented by CBRE will thus remain the same.
"Office buildings in well-connected locations, whose spaces can be designed in a modern and flexible way, remain in demand even in these challenging times. Especially since the office market is experiencing a slight upward trend, as employees are coming to the office more often again, as the latest real estate sentiment index of the German Economic Institute has shown. In the EMPORIO Tower, we are regularly able to realise rents at Hamburg's top rent level, as demand exceeds supply," says Sven Lintl, Head of Asset Management Germany at Union Investment.
"The extension of the lease for a further ten years consolidates the high attractiveness of the location and the successful partnership with Union Investment. In addition to the high-quality office space, exclusive event areas on the final floor with the spectacular 360-degree panoramic view, the Nord Event Cooking Lounge and the large conference room in the basement characterize the profile of the hotel. We are pleased to create space for a wide variety of event formats and thus added value for the tenants," says Hans Christoph Klaiber, Managing Director of Nord Event.
The EMPORIO Tower, built in 1963, has 23 upper floors and was extensively modernized from 2009 to 2011 and two storeys were added. The office tower has been a listed building since 2001. It has been awarded the Platinum Certificate for Leadership in Energy and Environmental Design (LEED) and is currently fully let.
Union Investment manages around 219,000 m² of office space in Hamburg. In addition to the EMPORIO, the portfolio includes the Chilehaus, the TRIIIO Hamburg and the Ericus-Contor and Falkenried sites. The EMPORIO at Valentinskamp 70 is the largest property that Union Investment holds in its portfolio in Hamburg. It has been part of the portfolio of the open-ended real estate fund UniImmo: Germany since 1989.
