U.S. law firm report
H1 2025
law firm share of total leasing activity
increase in average term length from 2021
Law firm lease terms have increased by more than 30% since 2021, reflecting a shift in strategy as market uncertainty has gradually eased.
average concessions as share of total lease value
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See how Atlanta, Boston, Chicago, Houston, Los Angeles, Manhattan, and Washington, D.C. are driving the law firm sector today.
Industry leasing activity
Across major markets, law firms have historically been more active in market downturns. Law firms made up nearly 14% of total leasing in H1 2025, significantly exceeding the years leading up to the pandemic (9.5%, 2015-2019).
Average lease term
Law firms have historically signed longer terms on new leases and shorter ones on renewals—a trend that accelerated after the pandemic as firms delayed long-term decisions. As of mid-2025, renewal terms have increased by over 30% since early 2021, narrowing the gap with new leases.
Concessions as percent of total deal value
Concessions have become a defining feature of the legal sector leases in recent years, with landlords offering increasingly generous packages to attract and retain tenants.
Concessions have become a defining feature of the legal sector leases in recent years, with landlords offering increasingly generous packages to attract and retain tenants. While the average deal value attributed to concessions peaked at nearly 25% of total lease value in early 2025, that figure is now beginning to taper—particularly in tighter markets like Manhattan, where flight-to-quality trends and stronger demand have narrowed the field of available premium space.
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