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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Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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