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Law Firm Leasing Activity Exceeds Pre-Pandemic Levels

Quarterly leasing volume has averaged 2.3 million square feet over the past four quarters.

By Kristen Smithberg | December 03, 2024 at 05:37 AM

Law firm leasing activity continues to be healthy, building on leasing demand that returned to pre-pandemic levels last year. In 2024, legal sector leasing volume from Q1 to Q3 is up 29.9% compared with the same period last year, according to Savills Research & Data Services’ Q3 law firm activity report.

Year-to-date law firm leasing totals 6.4 million square feet, exceeding the 2019 levels of 5.6 million square feet. Quarterly leasing volume has averaged 2.3 million square feet over the past four quarters, a notable increase from the 1.5 million square feet from the three-month average between 2020 and 2023.

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