The volume of square footage leased by Philadelphia-area law firms dropped precipitously from the second quarter to the third in contrast to the overall increase across major markets, according to a recent report by Savills U.S.

While 2021’s third quarter saw the strongest law firm leasing volume in top U.S. markets since the onset of the pandemic, amounting to 2.1 million square feet in new or renewed leases or a 51% increase from the second quarter, Philadelphia saw a decline from 190,000 square feet leased in the second quarter to 40,000 leased in the third.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]