CHICAGO—The business model for most law firms is changing dramatically, and according to a new report from Colliers International, over the next few years many will seek to right-size their real estate portfolios. Except at the very top tier law firms, a flattening of demand for certain types of legal services has created the need to cut costs, and real estate presents an inviting target.

“Real estate is one of their largest fixed liabilities and it's natural to keep an eye on it,” Steve Levitas, national director of Colliers' law firm services and principal in the firm's downtown Chicago office, tells GlobeSt.com.

Corporate users have made right-sizing offices with more efficient footprints a national trend, but law offices face a much different challenge, he adds. “They are private office intensive,” and can't simply move to an open office plan. Instead, many law firms have begun considering a switch to universal office sizes for both partners and associates and using demountable wall partitions in interior areas to increase flexibility, among other changes. Law offices may frequently “use their space as a recruiting tool, but younger lawyers might not be as concerned with how big their office is.”