Photo: Motortion/Adobe Stock Miami Lawyers Beat Other Local Sectors, Attorneys Elsewhere in Office Usage
Leasing activity is down for commercial real estate across the country, but law firm personnel are going back into the office at a higher rate than other industries, according to a new report.
October 16, 2024 at 12:22 PM
3 minute read
Real Estate
What You Need to Know
- The legal industry ranked as the largest sector that has returned to the office, according to a new report from Avison Young.
- Some Florida markets also ranked exceptionally high when looking at where law firms were returning to the office.
- Leasing activity has also slowed down in Florida and beyond, but once uncertainty wears off, that's expected to reverse.
Although office leasing activity has slowed recently in Miami, the rate at which workers are returning to the office jumped this year, outpacing the national average, and the legal industry is at the forefront.
Today, office utilization stands at just over 60% across the board in the U.S. since 2019, according to data from commercial real estate company Avison Young. That same data shows that office utilization is now over 77% for law firms, making it the industry with the highest office utilization in the country. And lawyers in Miami are headed to the office more frequently than their peers in other regions.
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