2024 Bright Insight

What percentage of your firm’s gross annual revenue was spent on real estate last year?

Regardless of the market, legal occupiers are demanding premium space which is reflected in the 9.4% average of gross revenue that is spent on real estate by law firms. This is down from last year’s figure of 10.5%. Am Law 1-50 firms, consisting of the highest revenue-producing firms in the U.S., spent 7.9% of their 2023 revenue on real estate while firms that fell outside of the Global 100 and Am Law 200 saw higher spend at 10.8%, on average. Using figures provided by Am Law 200 firms and their latest revenue figures, 3 it’s estimated that Am Law 200 firms spent more than $14.6B on real estate last year. 4

11.0%

10.8%

9.9%

All Firms, 9.4%

7.9%

6.7%

Am Law 1 to 50 Am Law 51 to 100 Am Law 200

Global 100 None of the Above

Source: Cushman & Wakefield Research

3 Revenue figures provided by ALM’s 2024 Am Law 200 report 4 Cushman & Wakefield analysis of ALM’s Am Law 200 report, 2024

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