Download Our New Mogul App Worldwide

Download Our New Mogul App. Reach Your Goals & Realize Your Full Potential.

Download Now

2019LawFirmServicesSpotlightReport

Colliers International
Colliers International Accelerating success.
1mo Toronto, Ontario, Canada Story
2019 Law Firm Services Spotlight Report

2019 Law Firm Services Spotlight Report

BY KNOWLEDGE LEADER EDITOR | 18 JULY 2019

Our latest report, the 2019 Law Firm Services Spotlight Report, examines real estate trends in the legal industry as law firms strive to achieve space efficiency and control costs, all while attracting the best talent. We quantify shifts within the industry by studying law firm space allocations and rental costs across the downtown areas of 19 North American office markets. The current survey, undertaken in Q2 2019, is compared against our prior survey from Q4 2017. In addition, we offer some pointers on premises strategy going forward.

KEY OBSERVATIONS:

  • Space allocations for legal professionals are down by 6% over the past 18 months
  • Where law firms are moving to new premises, or renewing in place, the reduction in footprint is generally greater
  • Floorspace per partner and attorney is falling in primary markets while showing little change in secondary locations
  • The average gross rent per square foot of space being paid by law firms has risen by 6.5%
  • Total occupancy costs are holding static, having increased by less than 1% per partner and attorney
  • The average rent being paid is 10% less than current Class A asking rates

For more information about real estate trends in the legal industry, download the full report.


0 replies

As a guest user, you can still reply to conversations. Just press the "Reply" button below, which will prompt you to sign in or sign up on Mogul before your Reply posts.


Colliers International
Accelerating success.

Colliers International (NASDAQ and TSX: CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries.

Report this post
Report this post

Want your dream job or internship?

Join the women worldwide who discovered their next opportunity on Mogul.

Get My Dream Job Now

Moguls Interested in Business

Want your dream job or internship?

Join the women worldwide who discovered their next opportunity on Mogul.

Get My Dream Job Now

Trending Marketplace

See All Marketplace

Trending Questions

See All Questions