Following a vigorous start to the year, U.S. law firm leasing activity continued to surge in the second quarter, recording the most significant period of leasing since the pandemic’s onset, based on the recent quarterly report from Savills.
The second quarter mirrored the activity seen in the first, with legal sector leases of 20,000 square feet or more amassing 1.6 million square feet once more. Cumulatively, the 3.3 million square feet leased in the first half of the year marked a 22.3% increase compared to the equivalent period in 2022. This figure also surpassed the 1.4 million square foot quarterly average experience throughout the pandemic, as discussed in the Savills U.S. Law Firm Activity Report Q2 2023.
These statistics suggest a rising trend of U.S. firms pushing for a return to the office, resulting in the highest leasing activity in the initial half of 2023 since the start of the global health crisis. More comprehensive details about this development can be found in the original article.