Deutsche Bank leases 7,566 sqm in Hamburg’s EMPORIO Tower

Union Investment has signed a lease with Deutsche Bank for 7,566 sqm of office space in Hamburg’s EMPORIO Tower. The bank is scheduled to move into the premises in March 2027.

The initial lease term is five years, with an option to extend. Union Investment said the agreement also reduces the property’s lease-expiry risk through 2032.

The 23-storey EMPORIO Tower was built in 1963 and extensively renovated between 2009 and 2011, when two floors were added. The building has been listed as a historic landmark since 2001 and holds LEED Platinum certification. It is currently fully leased.

Located at Valentinskamp 70, EMPORIO is the largest property in Union Investment’s Hamburg portfolio. It has been held by the UniImmo: Deutschland open-ended real estate fund since 1989.

Union Investment manages around 219,000 sqm of office space in Hamburg. Its other properties in the city include Chilehaus, TRIIIO Hamburg, Ericus-Contor and the Falkenried complex.