Office space for lease. Photo: Diego M. Radzinschi/ALM Relocations Accounted for More Than Half of US Law Firm Leases in Q1, Bucking Prior Trend
Overall U.S. law firm leasing activity during Q1 of 2024 was higher than Q1 during the last four years, a new report from Savills Law Firm Tenant found.
May 29, 2024 at 03:26 PM
3 minute read
What You Need to Know
- More than half of U.S. law firm leases signed during Q1 of 2024 were relocations, a shift from a 2023 trend.
- Leasing during Q1 was the highest since the Q1 of 2019.
- Leases got shorter during the pandemic, but have gradually gotten longer over the last two years.
Overall law firm leasing activity was higher for the first quarter of 2024 than it was during the same period over the last four years, with more than half of the U.S. law firms that signed leases in Q1 relocating to new space, according to Savills' Q1 2024 U.S. Law Firm Activity Report.
Leasing activity in the legal sector was up 47.6% in Q1 compared to the same three-month period in 2023, according to the report, which analyzed leases of at least 20,000 square feet. Law firms leased a total of 1.7 million square feet during Q1 2024, which surpasses the average of 1.5 million square feet from 2020 through 2023,
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Related Stories
View AllYou Might Like
View All
Morgan Lewis Says Global Clients Are Noticing ‘Expanded Capacity’ After Kramer Merger in Paris
5 minute read
O'Melveny, White & Case, Skadden Beef Up in Texas With Energy, Real Estate Lateral Partner Hires
5 minute read
K&L Gates Sheds Space, but Will Stay in Flagship Pittsburgh Office After Lease Renewal
Law Firms Mentioned
Trending Stories
- 1Supreme Court Denies Trump's Request to Pause Pending Environmental Cases
- 2‘Blitzkrieg of Lawlessness’: Environmental Lawyers Decry EPA Spending Freeze
- 3Litera Acquires Workflow Management Provider Peppermint Technology
- 4'I Can't Do This': Judge Blocks $16M Alex Jones Settlement
- 5TikTok Opts Not to Take Section 230 Immunity Fight to U.S. Supreme Court
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.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
