Elevated legal occupier demand that started in 2022 has continued through the third quarter of 2024, suggesting a new normal level of leasing activity in the legal sector, according to a Cushman & Wakefield research report on legal sector leasing trends.
The report said third-quarter legal leasing activity reached 3.4 million square feet, which was slightly below post-pandemic averages. That followed five million square feet of legal leasing activity during the second quarter. The firm said 2024 will likely close with about 15 million square feet of legal sector leasing, surpassing 14.8 million square feet in 2022 but falling short of record leasing in 2023 of 16.9 million square feet.
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