The Legal Tenant Practice Group is pleased to share the latest Savills U.S. Law Firm Activity Report. We analyzed law firm transactions over 20,000 SF across key U.S. markets to provide insight on activity through the third quarter of 2021. Our team is happy to report the following signs of continued market stabilization and law firm confidence:
- A 51% increase in quarterly leasing activity from Q2 across markets is the highest leasing volume since the onset of the pandemic, and occurred despite Delta Variant concerns
- Long-term renewals and relocations are out-pacing short-term extensions in terms of square footage leased, signaling renewed confidence in long-term real estate planning
- Subleasing supply is leveling off in major markets that had seen increases over the last 18 months
- Significant transactions in New York, Chicago and Washington, DC are signaling confidence in the long-term value of office space to law firms, their people, and their clients
Please fill out the form to receive the complete report – and don’t hesitate to reach out with any questions about in-depth leasing trends in your respective market.
