Union Investment wins Johnson & Johnson MedTech as a tenant for the EMPORIO Tower in Hamburg

by   CIJ News iDesk III
2024-05-15   10:23
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Union Investment has let around 1,600 m² of office space in Hamburg's EMPORIO Tower to the medical technology company Johnson & Johnson MedTech (J&J Medical GmbH). The office tower is centrally located at Valentinskamp 70 and the back office team of Johnson & Johnson MedTech's German sales organisation will move from Norderstedt to Hamburg city centre at the beginning of next year. The lease runs for more than 10 years.

Union Investment has been able to re-let the space on the 15th floor of the EMPORIO Tower ahead of schedule, having reached a termination agreement with the current tenant shortly before.

"This letting success proves once again that office buildings in well-connected locations with sustainable, modern and flexible space remain in demand even in these challenging times. Demand is outstripping supply, which is why we are regularly achieving top rents in Hamburg at EMPORIO Tower," says Sven Lintl, Head of Asset Management Germany at Union Investment.

Built in 1963, the 23-storey EMPORIO Tower was extensively modernised in 2011 and two additional floors were added. The office tower has been a listed building since 2001. It has been awarded Leadership in Energy and Environmental Design (LEED) Platinum certification and is currently fully let.

With over 220,000 sqm, Union Investment manages one of the largest office property portfolios in Hamburg. In addition to EMPORIO, the portfolio includes Chilehaus, TRIIIO Hamburg, Ericus-Contor and the Falkenried site. EMPORIO at Valentinskamp 70 is Union Investment's largest property in Hamburg. It has been part of the portfolio of the UniImmo: Deutschland open-ended property fund since 1989.

CBRE acted as the letting agent.

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