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US law firms make up two thirds of global law firm office leasing activity

Workplace Insight

New York accounted for a third of all leasing activity globally in the legal sector in the first half of 2024, says Savills , equating to over 1.4 The post US law firms make up two thirds of global law firm office leasing activity appeared first on Workplace Insight. million sq ft of space, out of a total of 4.3

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The Future of Office Leasing: Shorter Commitments and Increased Flexibility

Yarooms

Nor their overall need for office space square footage. Research shows that by 2030 demand for office space will be 20% lower than it was in 2019 (and that’s the optimistic scenario).

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Office lease lengths may be decreasing but majority of firms will increase their footprint

Workplace Insight

Responding to reports from property management platform, Re-Leased, that UK office lease lengths has fallen to the lowest on record and that vacancies rates had soared, office designers Unispace are suggesting firms should be wary of making ‘rash decisions’ regarding their office footprint over the long term.

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London office market sees sharp decline in leasing activity

Workplace Insight

The London office leasing market kicked off 2024 with a significant downturn, according to a new report from Devono. After a strong end to 2023, leasing activity plummeted by 45 percent in the first quarter, with only 2.3 million sq ft of space leased.

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Landlords Have A Surprisingly Strong Impact On Return To Office Success

All Work

On the other end of the spectrum — and my crosshairs are hovering over Canary Wharf here — there are the big corporations that are stuck with infinitely long, very pricey office leases that need to be validated. The commercial office space industry, especially in London, needs to adapt to more flexible leasing arrangements.

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People spending more time in offices in search of social interaction

Workplace Insight

Office workers now spend more time in the office, with the average creeping up to three and a half days per week compared to three days in 2022 , according to a new report from international law firm, Gowling WLG.

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Flexible workspace market will be worth up to $50bn by end of decade

Workplace Insight

Flexible workspaces provide the convenience of diverse office setups and services, accommodating varying professional needs. The appeal lies in the accessibility of premium locations, enabling professionals to work in central hubs without the constraints of traditional office leases.