By Matthew Huisman
Slow job growth coupled with high vacancy rates have created a renter's market for small and midsize Washington law firms. Yet larger law offices that will soon be looking for new digs will have fewer options.
In the next few years, leases are set to expire for a number of big D.C. law offices, including Sidley Austin; Venable; Morgan, Lewis & Bockius; Patton Boggs; Latham & Watkins; Finnegan, Henderson, Farabow, Garrett & Dunner; and Steptoe & Johnson LLP. Several are expected to be actively looking to move to a new location.
According to an internal report released in August by Studley, a real estate company that has handled many law firm moves, the tenant-friendly market — for some firms, at least — is likely to continue over the next few years...To read full article, visit National Law Journal (link above)