What's Happening?
Holland & Knight and Greenberg Traurig have signed significant leases in the Southeast, marking some of the largest real estate transactions in the U.S. this year. According to the report, nearly 60% of law firms that signed new leases in the second quarter of 2025 opted to remain in their current locations. This trend is slightly higher than the previous two years and notably more than pre-pandemic levels in 2019. The decision by these major law firms to secure large leases reflects a strategic move to maintain stability and presence in key regional markets.
AD
Why It's Important?
The leasing decisions by Holland & Knight and Greenberg Traurig underscore a broader trend in the real estate market where firms are choosing stability over relocation. This has implications for the commercial real estate sector, particularly in the Southeast, as it suggests a sustained demand for office space despite economic uncertainties. The move may benefit local economies by ensuring continued business operations and employment. Additionally, it highlights the importance of the Southeast as a strategic location for major law firms, potentially influencing other industries to follow suit.
What's Next?
As these firms settle into their new leases, the focus may shift to optimizing their office spaces to accommodate hybrid work models and enhance employee productivity. Other law firms and businesses might evaluate their own leasing strategies, considering whether to follow the trend of staying put or exploring new locations. The real estate market could see increased activity as firms reassess their spatial needs in response to evolving work environments.
Beyond the Headlines
The decision to maintain existing office locations may reflect broader cultural shifts within the legal industry, emphasizing stability and continuity. It also raises questions about the long-term impact of remote work on office space demand and how firms are balancing traditional office settings with modern work practices.
