Law firms are among the first office-using tenants to reduce or eliminate their WFH strategies, according to a new report from Colliers.
While the national occupancy rate currently stands at 25%, nearly 70% of law firms surveyed by the commercial real estate giant report being at least 25% occupied. By the end of 2021, Colliers experts predict that two-thirds of all law firms will be more than 50% occupied.
Adding to that calculus is the fact that most large firms posted a blockbuster financial year: according to Colliers' Grame Young, "all of the major law firms are having a banner revenue year."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.