Big Law Is Back to Signing Office Leases, With More Relocations Expected This Year | The American Lawyer - The American Lawyer

What You Need to Know

• Law firm leasing activity surged at the end of 2021, and firms are expected to increase office relocations.
• Savills US say firms' commitment to bring employees back to in-person work could drive an increase in leases.
• Various regions saw huge swings in law firm leasing activity, with Houston seeing the largest drop.

Law firm leasing surged at the end of the year, according to a recent report, and analysts expect another boost going forward as firms try to sway their employees back to offices with new and better spaces.

Average law firm leasing activity increased roughly 18% in 2021 compared with 2020, due in large part to “a flurry of deals” in the fourth quarter, according to the latest Savills U.S. Law Firm Activity Report. That helped push the quarterly leasing average during the pandemic era up to 1.4 million square feet in new or renewed leases, “not far” from the average of the two years prior to the pandemic—1.8 million square feet.

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February 15, 2022

source: https://www.law.com/americanlawyer/2022/02/15/big-law-is-back-to-signing-office-leases-with-more-relocations-expected-this-year/

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