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NEW YORK CITY — Time Inc. has signed a lease for 700,000 square feet of office space at 225 Liberty Street in Lower Manhattan. The company will relocate its global headquarters from Midtown Manhattan. The property is one of the five office towers of Brookfield Place complex, which is owned by Brookfield Office Properties (NYSE: BPO). Brookfield Place is currently undergoing a $250 million renovation of its retail and common areas, which will be fully completed in 2015. Mitch Steir, Michael Colacino, Matthew Barlow and Howard Nottingham of Studley represented the tenant, while Jerry Larkin, David Cheikin and Alex Liscio represented Brookfield in-house.