Time Inc. awards contract to C&W

Real Estate Weekly, Jan 8, 2003

Time, Inc. has awarded the facilities management contract for its headquarters in New York City to Cushman & Wakefield, Inc., the world's largest fully integrated real estate services firm. The assignment includes the facilities management of Time, Inc.'s headquarters at 1271 Avenue of the Americas and its Sports Illustrated space at 135 West 50th St. The facilities comprise a total of 1.735 million SF.

Cushman & Wakefield will analyze existing operations and recommend changes to create a more efficient operation. The firm will provide a full spectrum of facilities management services including: Property operations, a call center! help desk, site management, preventive maintenance, accounting and administration, environment and health safety conditions and energy management.

"Cushman & Wakefield will utilize our expertise to create operating efficiencies and implement cost savings initiatives while increasing occupant satisfaction," said Cushman & Wakefield managing director, asset services, Joseph A. Lagano.

Cushman & Wakefield asset services executive vice president, John C. Santora said the firm is thrilled to be working with Time, Inc. "Time, Inc. is an exceptional company with many great brands and we are excited about working with them in New York," he said.

A key component of the Cushman & Wakefield program will be the Business Integration Group (BIG). BIG's Webenabled tools will provide critical information that will allow Time, Inc. and Cushman & Wakefield to measure and manage operating performance on a 24/7/365 basis.

Asset Services covers the tangible end of the real estate life-cycle, including property, facilities and project management, as well as strategic agency services. Institutional and corporate clients entrust to Cushman & Wakefield a management portfolio comprised of more than 325 million SF.