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C&W to Manage 1.7M SF of Time Inc.'s NYC Assets

NEW YORK CITY-The massive facilities-management contract stretches over two of the publisher's offices--its 1271 Ave. of the Americas HQ and its Sports Illustrated space at 135 W. 50th St.

By Glen Thompson | Updated on January 02, 2003

NEW YORK CITY-Cushman & Wakefield has signed a facilities-management contract for Time Inc.’s New York City headquarters at 1271 Ave. of the Americas and its Sports Illustrated space at 135 W. 50th St. The two long-term assignments, which C&W will staff separately, amount to more than 1.7 million sf.

According to Joe Lagano, a managing director of asset services for Cushman, when Time Inc. contacted a number of firms with a mind to outsourcing management of the two adjacent properties, C&W’s depth of experience clinched the deal. “We probably handle more facilities asset management for more major financial institutions than anybody else,” Lagano tells GlobeSt.com.

Cushman manages 51 million sf of commercial space in New York City proper, 65 million sf in the metro area and 325 million sf globally, Lagano states. “We’ll really operate these facilities the most efficient way possible while continuing to reduce costs where appropriate.”

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