Law Firm Leasing Activity Rebounds: The Morning Minute
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August 25, 2023 at 06:00 AM
5 minute read
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WHAT WE'RE WATCHING
NEED SOME SPACE - Presumably in response to an overcapacity of culture and collaboration, law firms are once again snapping up office space at the highest clip in years. Building off a strong first quarter, U.S. law firm leasing activity remained robust in the second quarter, resulting in the strongest period of leasing on record since the start of the pandemic, according to the latest quarterly report from Savills. In all, the 3.3 million square feet leased in the first half of the year was up 22.3% compared to the same period in 2022, and above the 1.4 million square foot quarterly average through the pandemic, according to the Savills U.S. Law Firm Activity Report Q2 2023. Tom Fulcher, chair of the Savills' legal tenant practice group, told Law.com's Jessie Yount that leasing may continue at a more stable pace as law firms settle into a new normal. "Firms are continuing to be confident that they'll need office space despite the pressure from people to work from home," Fulcher said. "Earlier on people were gently suggesting, but now there are mandates, now it'll affect compensation. Firm management is saying let's get people back."
CHATGPT'S APPEAL - Yesterday we told you about how generative AI could potentially improve law firm-client relations, along with assisting in tasks like writing marketing materials, researching and contracting, pricing and e-discovery. But what about actually authoring court filings? Lawyers are understandably squeamish about this prospect in the wake of the recent horror story involving a ChatGPT-penned motion riddled with fake case citations. But—provided caution is exercised—some appellate specialists told Law.com's Avalon Zoppo the technology can still be useful for brief-writing. For example, Joseph Regalia, an associate professor at the University of Nevada's William Boyd School of Law, said ChatGPT could help lawyers come up with headings, fine-tune case summaries or improve the style of their own writing. "You've already written the outlines of your brief or you've got a first draft, and you're having ChatGPT now help you refine your writing style or help you correct the citation format of cites you already have in your document," he said.
ON THE RADAR - General Electric, Monsanto, Eastman Chemical affiliate Solutia, Pfizer affiliate Pharmacia, Bayer and Sabic Innovative Plastics were slapped with an environmental lawsuit Aug. 24 in Massachusetts Superior Court for Berkshire County. The lawsuit, filed by Bosworth Law and attorney John B. Stewart, alleges the defendants knowingly polluted a school and playground with polychlorinated biphenyls and downplayed the dangers of the chemicals and the severity of pollution in the Housatonic River and Berkshire County. The suit, filed on behalf of the estate of a former teacher who allegedly developed multiple forms of cancer while teaching at a school that abutted toxic waste areas, brings negligence, product liability and fraud claims. Counsel have not yet appeared for the defendants. The case is 2376CV00147, Steven McDermott as Personal Representative for the Estate of Nina McDermott vs. General Electric Company et al. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.
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