Concessions are increasing for law firm tenants in markets across the US, with averages for new 10-year leases on Class A space ticking up to $84.24 per rentable square foot in tenant improvement allowances and 9.1 months of rent abatement. 

According to Colliers' latest survey of the law firm sector, concessions are highest in the Northeast at $109 psf in tenant improvements with 12 months of free rent. Manhattan and Washington DC lead the 23 markets surveyed by Colliers, while the Midwest has the lowest concessions at an average of $62 psf with eight months of rent abatement.

The firm also noted a "wide gap" between concessions on offer in gateway markets, which average $123 per square foot with 12 months of free rent, and in large and medium-sized cities. Specifically, TIs in gateway markets average 70% higher than across the other 18 markets in the Colliers survey.