Law firms face more supply constraints than companies in nearly any other industry. Why? Law firms typically target premium, Class A space in central locations—the tightest segment of U.S. office markets. With fewer space options, your firm may find itself battling with competitors not only for clients—but for desired space as well. Notwithstanding these challenges, our 2014 Law Firm Perspective identifies several trends that law firms are using to optimize costs.
Are you a leader in the legal field? Before making a decision about your law firm’s real estate, make sure you’re in the loop on the latest industry trends.
From office layout to city preference, the legal landscape is shifting. Below are a few top trends to consider before structuring your own real estate strategy.
- Budget Allocation: Most U.S. markets are moving in favor of landlords. Rents continue to increase, and available space … Read More
Over the next two years, law firms are expected to continue to lose real estate market leverage. JLL’s new infographic outlines how leverage has shifted away from law firms towards landlords. Check out JLL’s new infographic for more law firm workplace trends and details on how space utilization can lower costs in the legal sector.
Trends like collaborative workplaces and digitization of the workplace have radically changed how law firms use office space. Check out JLL’s new infographic for more law firm workplace trends and details on how space utilization can lower costs in the legal sector.
Revenue levels of the AmLaw 100 grew by just 2.8 percent in 2012, following growth rates of 5.9 percent in 2011 and 4.7 in 2010. As revenue growth slowed, so… Read More
The current environment shows a challenging time ahead for the majority of law firms. Falling revenue growth levels among the AmLaw 100 (just 2.8% in 2012) make cost-cutting measures a must, but decreasing office space availability, particularly among Trophy and Class A options, is increasing rents across the board.
What does this mean to you? Our Infographics campaign sheds light on where, when and why the change is happening and how it… Read More
Over the past few years, we went from being a net importer of oil, natural gas and biofuel, to a net exporter. Check out the infographic below to see how this has impacted energy companies, the economy, the job market, other industries and more.
Tweet this: @JLLNews says the #US switch from a net importer… Read More
Positive economic headwinds have picked up force across the U.S., fueling increased optimism for 2014 and 2015. However, for the domestic legal sector, the outlook for most firms remains muted, driven by fairly stagnant conditions across most practice areas, which, when combined with fee compression, creates a slow-growth environment.
Mid-sized and large… Read More
Our recent lease with Haight Brown & Bonesteel LLP in Irvine showcases how collaboration for the success of the client is inherent in everything we do.… Read More
Commercial Property Executive met with JLL’s Managing Director Tony Morales to discuss the sale of the US Bank Tower in downtown Los Angeles. Overseas Union Enterprise Ltd. U.S. subsidiary Beringia Central L.L.C. purchased the 72-story, 1.4-million s.f. Class A office property for $367.5 million. The transaction also included the Maguire… Read More