- Am Law 100 firms — the highest-grossing firms in the U.S. — have historically leased high-quality office space to attract top recruits, retain talent, and elevate the client experience. In 2025, 59% of their leases were completed in trophy or class A+ buildings across major markets.
- Availability in trophy buildings across major markets has fallen to just 12.3% and continues to decline. With virtually no new office construction underway, competition for top-tier space is intensifying.
- As premium space becomes harder to secure, law firms are signing longer leases. Over the past year, the average Am Law 100 lease term rose to over 11 years, representing 6.3% growth.
- Lease terms are also lengthening across smaller firms. Am Law 200 lease terms increased 12.3% over the same period, and boutique firms saw an even stronger 21.8% increase, underscoring a broader move toward longer, more strategic lease commitments.
Competition for top U.S. office space pushes law firms into longer commitments
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Tucker White
U.S. Office and Life Sciences Lead, Market Intelligence
Boston, Massachusetts, Pennsylvania, New York
Research, Market Intelligence
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