What is the story about?
What's Happening?
Holland & Knight and Greenberg Traurig have secured some of the largest law firm leases in the Southeast United States this year. This development is part of a broader trend where large law firms are expanding their real estate footprints. According to recent data, leasing activity among major law firms has reached its highest level since 2018. Nearly 60% of firms that signed new leases in the second quarter of 2025 chose to remain in their current locations, a slight increase from the past two years and significantly more than in 2019 before the pandemic. This trend highlights the ongoing interest in real estate within the legal sector, as firms continue to invest in their physical presence.
Why It's Important?
The expansion of law firms' real estate footprints in the Southeast signifies a robust demand for legal services in the region. This trend could have significant implications for the commercial real estate market, potentially driving up demand and prices for office spaces. For the legal industry, maintaining or expanding office space can enhance client service capabilities and support growth strategies. The decision by firms to stay in place or expand also reflects confidence in the region's economic prospects and the importance of maintaining a strong physical presence in key markets.
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