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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