Law Firm Demand Steadies DC Lease Activity

WASHINGTON, DC-Law firms comprise approximately 40% of the District’s CBD and 35% of East End’s class A real estate market–a huge chunk city’s prime release estate. All together, there are 43 law firms in the District’s CBD and East End that occupy more than 100,000 sf. Fortunately for the District, according to a new report by Jones Lang LaSalle, this essential user base is showing little signs of any significant retrenchment in its real estate holdings.

Clearly the sector will–and is–being affected by the challenging economy; one only has to look at the startling dissolution of Heller Ehrman last month. Still, though, Washington-area firms are expected to remain busy, or at least solvent, thanks to the presence of the government and lobbying industry. Also as the federal government launches its multi-billion rescue plan for the financial system, Washington area firms can count on picking up additional work.