Dec. 28, 2017
Law firm space shrinks as standards rise
Large and medium-sized law firms continue to scale back office footprints as costs for premium space increase, according to reports by JLL and CBRE.
Large and medium-sized law firms continue to scale back office footprints as costs for premium space increase, according to reports by JLL and CBRE.
Nearly 29 million square feet of law firm leases will expire between 2018 and 2022 in the 26 major U.S. markets, according to CBRE. Seventy percent of those leases involve more than 50,000 square feet. CBRE estimated that most of those firms will opt to decrease their space.
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