Culture vs. Cost: Law Firms Are Taking Diverging Approaches to Real Estate in the New Normal | The American Lawyer - The American Lawyer

Shared office space. Credit: KornT/Shutterstock

What You Need to Know

• While many law firms are reducing space as more attorneys work remotely, others are maintaining their pre-pandemic footprint or even expanding.
• At the heart of whether to reduce space and institute strategies such as hoteling is the push and pull between cost-savings and culture.
• Regardless of which side of the debate they're on, law firms want to build the offices of the future.

Much of the pandemic is replete with examples of firms and experts proclaiming that the office of the past will stay in the past. And while many firms such as Perkins Coie, Snell & Wilmer and Nixon Peabody are reducing space as more attorneys shift to working remotely, plenty of law firms are reaffirming their commitment to their office space and, in some cases, even expanding.

Fried Frank, for example, has recommitted to its 400,000-square-foot Manhattan office at 1 New York Plaza. Greenberg Traurig gave up a floor in its new four-story office in One Vanderbilt in New York, while also announcing that it is expanding its Westchester County office and plans to open “one or two” more offices in Long Island.

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source: https://www.law.com/americanlawyer/2021/10/14/culture-vs-cost-law-firms-are-taking-diverging-approaches-to-real-estate-in-the-new-normal/

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