Having reached space limits at its 20-year-old building, Time Life’s management wanted a new headquarters that would facilitate a shift in their culture and create a positive business environment.  Time Life trusted longtime advisor JM Zell to manage every project detail – from analysis through implementation. 

JM Zell ensured the design of Time Life’s new building would capture the client’s corporate identity, address their specialized needs and anticipate future growth – all while preserving flexibility for future corporate change and alternative use of the space.

With JM Zell’s counsel, Time Life leveraged its corporate credit to cost-effectively fund construction of the 157,000-square-foot facility and fix its long-term occupancy costs at below-market lease terms.  The fiscal management controls applied to the project kept Time Life within its $31.4 million budget.

Meanwhile, JM Zell’s vigilance guided Time Life through complex processes in both design approval and environmental remediation.  By minimizing project delays, JM Zell enabled Time Life to relocate its 350 employees on schedule.

Forethought in building design paid off considerably.  Over the next seven years, as business climates changed, Time Life called upon JM Zell to downsize its occupancy through sublease and ultimately to divest itself of the asset as part of a division-wide reorganization strategy.