More and more Law Firms are working to minimize overhead and maximize efficiency. Large opulent offices with sizeable law libraries have transitioned into smaller, more technology based offices. Because of this, CRA offers guidance towards workspace efficiency while preserving the law firm “environment”.
- Determine current needs along for proposed growth and/or reduction based.
- Review potential to maintain a primary office in the central business district while establishing smaller satellite offices in the suburban area or in close proximity to key clients.
- Long term leases with favorable renewal options remain essential for most large, multi-floor law firms, but termination options or shorter lease terms are critical for many suburban or client driven office locations.
- “Green” buildings with convenient access to clients have become more attractive, but buildings offering the core services of high security, extended HVAC hours, convenient parking, and extensive building amenities remain as top locations.
In summary, Law Firm lease requirements and structures are less predictable than in the past and creative solutions to minimize overhead and risk are essential.