Credit: JR Photography/Adobe Stock Despite Q1 Dip, Leasing Activity Expected to Rebound as Law Firms Plan for the Future
Law firms are taking advantage of favorable market conditions and making longer-term commitments amid an apparent shift toward "densification."
May 11, 2022 at 04:20 PM
6 minute read
Real estate executives say the construction of the office of the future is well underway within the legal industry, despite a dip in leasing activity at the beginning of the year.
In the first quarter of 2022, leasing volume in the legal sector totaled 1.1 million square feet, down from the previous two quarters that saw over 1.5 million square feet each, according to a report from commercial real estate brokerage Savills Inc., which analyzed law firm transactions over 20,000 square feet made in Q1.
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