Law firms are considering leasing new office space in Atlanta up to three years before their current leases end as they foresee competing for increasingly scarce new “quality” space amid the lowest level of office construction in a decade, a new report states.
According to commercial real estate broker JLL’s new “Law Firm Perspective” report, 34 Am Law 100 firms occupy 2.2 million square feet of space in the Atlanta market. By 2028, approximately 2.8 million square feet of law firm office leases are set to expire in Atlanta but only 2.1 million square feet of new product is currently under construction, the report stated.
