U.S. law firm leasing activity in key markets during the first quarter of 2023 was the strongest since before the pandemic, and markedly higher than the fourth quarter of 2022, Savills Legal Tenant found in its latest report.
During Q1, legal sector leases of 20,000 square feet or more totaled 1.6 million square feet, up 45% from 1.1 million square feet in Q4 of 2022, and above the 1.4 million square foot average through the pandemic, according to the Savills U.S. Law Firm Activity Report Q1 2023.
