Legal Sector Leasing & Associate Survey Insights

In the first quarter of 2024, legal occupiers committed to 3.2 million square feet (msf) of office space in the United States, with the majority opting to sign a new lease. In major markets, legal leasing accounted for 7.2% of all office leasing activity.

The difference in behavior between firms that signed a new lease and those that signed a renewal persisted through the first quarter of 2024. Firms that opted to relocate were more likely to expand their office size, while those that renewed typically remained the same size.  

When deciding to join a new law firm or remain at their current one, associates most often consider the firm’s areas of practice, its reputation and the compensation offered.  

Associates expect artificial intelligence (AI) to have the most significant impact on the future of the legal sector. They expect changes to vary within different operational areas, with expected results ranging from positive, to neutral to negative.