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Trend of Smaller and More Efficient Offices Leads To Downsizing
Several big law firms have plans to shrink their Washington, DC, offices soon, continuing the legal industry trend of smaller and more efficient offices in the wake of the pandemic and hybrid work arrangements.
Even with the downsizing though, the legal industry remained a key tenant in the D.C. leasing market in the second quarter of 2023, with firms such as Crowell & Moring, Fried Frank Harris Shriver & Jacobson, Hunton Andrews Kurth, Katten Muchin Rosenman and Kilpatrick Townsend & Stockton inking office deals.
Law firms accounted for 25% of the gross leasing activity in Washington, DC in Q2, which was largely driven by new leases (71% of law firm leasing activity) followed by lease renewals (29%), according to data from Cushman & Wakefield obtained by the National Law Journal.
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