Union Investment has achieved three leasing successes in one fell swoop. A total of 10,660 m² of office space in Hamburg’s EMPORIO Tower has been extended ahead of schedule. GATX, a leading full-service freight car rental company, extended its lease for 2,204 sq m until the end of 2028, while Egon Oldendorff, a shipping company with a long tradition and a successful track record in the bulk business, also signed early for a further five years. The company occupies 3,340 m² in the EMPORIO-TOWER. Also renewing for five years was a large law firm, which has leased 5,116 m².
“The lease extensions illustrate that many tenants are looking to secure high-quality office space in these uncertain times. Properties in well-connected locations whose space is both sustainable and modern with flexible design options therefore remain in demand,” says Sven Lintl, Head of Asset Management Germany at Union Investment.
Over the past three years, Union Investment has actively renewed or re-let around 35,000 sqm in the EMPORIO TOWER, concluding almost all leases on a long-term basis. The building is fully leased and thus excellently positioned for the coming years.
Union Investment manages one of Hamburg’s largest office property portfolios, with more than 220,000 m². In addition to EMPORIO, the portfolio includes Chilehaus, TRIIIO Hamburg, Ericus-Contor and Falkenried-Areal. EMPORIO at Valentinskamp 70 is the largest property held by Union Investment in Hamburg. It has been part of the portfolio of the UniImmo: Deutschland open-ended mutual property fund since 1989.
