Union Investment has signed a lease agreement with Deutsche Bank for 7,566 m² of office space in Hamburg’s EMPORIO Tower. In March 2027, the major bank will move into the new space. The contract initially runs for five years and can then be extended.
“The new letting proves the high attractiveness of the location and the property: office buildings such as the EMPORIO in a very well-connected location, whose space can be designed in a modern and flexible way, remain in demand even in these challenging times. In the EMPORIO Tower, we are able to regularly realise rents at Hamburg’s top rent level and leverage rental potential. At the same time, we have been able to reduce the risk of lease extensions by 2032,” says Christian Jansen, Asset Manager Tenant Relations at Union Investment.
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.
