Chicago, Illinois. Credit: Shutterstock.com Am Law 100 Firms Struggle to Meet Plans for Office Efficiency
"As much as people are trying to skinny-down their offices, getting rid of workrooms, getting rid of administrative stations, the experience of relative inefficiency is still happening," said Thomas Fulcher, chair of the legal tenant practice group at Savills.
July 15, 2024 at 03:29 PM
4 minute read
What You Need to Know
- A majority of law firms struggled to reach targeted efficiency levels of 500 to 750 square feet per attorney.
- Legacy floor plans tied to older leases and the costs of renovation have held back firms from reaching the level of efficiency desired.
- Data gathered by Savills also indicated lower space per attorney ratios in leases with a longer time period before expiration.
Despite Am Law 100 law firms' stated plans to adopt efficient office utilization, legacy office configurations and lack of occupancy have prevented firms from translating those plans into lower square footage per attorney ratios, according to a new report by property advisers at Savills.
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