With global economic growth on the rise and new real estate development popping up across U.S. cities, many law firms are likely to see more favorable tenant conditions in the next 12 to 18 months, a new report said. But even amid those relative bargains, many firms are likely to take the new spaces with the highest price tags.
JLL’s 2017 Law Firm Perspective report, released Thursday, said law firms have been more proactive than other tenants when it comes to preleasing space in new developments. As those spaces begin to open up, rent will begin to fall in the older properties. And even those who are taking the premium space are likely to benefit from concessions.
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