Shaking off the effects of the pandemic, U.S. law firm leasing surged in 2023, up 45.1% when compared with 2022, and more often than not, firms signed new leases to stay in their current space, according to the Savills Legal Tenant U.S. Law Firm Activity Report Q4 2023.

Significantly, regardless of whether firms stayed put or moved with their new lease in 2023, 43.6% expanded their space, compared with 28.5% in 2022. For the year, 56% of leases signed were to stay in place, compared with only 33.9% the year before.