Law Firms Continue To Trim Real Estate Costs, Shrink Offices

Law360 (June 19, 2019, 6:58 PM EDT) -- Law firms are spending less and less on real estate even as rents rise in major metro areas, according to a forthcoming Cushman & Wakefield report obtained by Law360.

Firms are now, on average, spending less than 6% of their gross revenue on real estate amid a fundamental shift in the brick-and-mortar law firm model that has seen many firms do away with large offices for partners, according to the report.

As law firms seek to save on real estate, they are pushing their square footage per partner down while also shrinking partner offices, with many firms doing away with the...

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