Biglaw Finally Getting Its Act Together On Hybrid Work, Opting For Smaller Office Space

Last year, most activity was renewals due to return-to-office mandates, but now 60% of 2024 leases are for new spaces like Hudson Yards, reflecting growth uncertainty in 2023.

Office visitation rates are up due to quality space offerings, encouraging return-to-office with top-notch amenities. Leasing activity projected to increase as more firms solidify return-to-office policies.

Firms are enforcing attendance policies, contributing to office visitation uptick. Increased leasing reflects the importance of smaller, efficient spaces per employee for many law firms.

Read at Above the Law