2024 Bright Insight

INTRODUCTION

The legal sector is in a continuous state of evolution— constantly improving how it has done things in the past, adapting to the ways of the future and taking steps between the two to bridge the gap as change radiates through law firm operations. Although law firms have traditionally focused more on actual office spaces than other sectors, the shared and community spaces in the legal workplace are catching up with other sectors. Many changes occurring in the legal sector are natural for an industry that’s continuing to grow—while some are being made as a result of new technologies, societal shifts and a new generation of attorneys filling the incoming talent pipeline. Survey results from Cushman & Wakefield’s 2024 Bright Insight Benchmark Survey indicate that leaders in the legal sector are not only cognizant of these changes, but actively driving them. Law firm leasing activity has been strong for the past three years, setting records in 2022 and again in 2023. This strength has carried through into the first quarter of 2024. Office demand is supported by law firms’ sector revenue, employment growth and commitment to office space, even as many embrace hybrid work models.

4 | BRIGHT INSIGHT