Tag Archives: Law Firm Outlook

How the Law Industry Can Fight Stagnant Growth

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By: Rob Roe, JLL Managing Director 

The 2008 recession resulted in significant changes to the legal business. According to our 2016 U.S. Law Firm Perspective, law firms have faced numerous challenges, such as economic uncertainty and volatile legal employment rates, as demand has stagnated.

Despite these challenges, the 2016 Altman Weil Report revealed that nearly 74% of firms with 250 lawyers or fewer have experienced revenue and profit growth since 2008. There has been a slow upward trend in revenue, however, firms must reevaluate their growth strategies to remain profitable.

So, how are they overcoming these challenges?

Industry leaders are starting to regain their footing by adopting new strategies to trim overhead costs, spark growth and maintain high levels of profitability.… Read More

JLL Releases 2014 Law Firm Perspective [Free Download]

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By: Robert Kramp, Vice President and Director of Research, Jones Lang LaSalle, Midwest and Great Lakes Region

Law-Firm-2JLL research released the 2014 Law Firm Perspective, and with it, the industry’s leading trends and the latest real estate insights. Across the U.S., JLL found that the rightsizing wave is finally slowing down. Most firms have already downsized for efficiency, and are now looking for new approaches to location strategy.

Another national trend: There’s a supply shortage. Since location, often within prime office buildings, is critical for law firms, they “face more supply constraints than nearly any other industry,” according to the report.

On the upside, law firms are now making site selections based on employee preference. It’s all about talent for law firms, and some hotter, desired locations are in “fringe CBD” areas.

From national to local, law firms in Ohio, Michigan and Pennsylvania have been busy during 2014. Read on to find out what’s happening in your city’s law firm CRE landscape.

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Calling All Law Firms: Keys to Succeed in a Muted Market [Infographic]

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By: Robert Kramp, Vice President and Director of  Research, Jones Lang LaSalle, Midwest and Great Lakes Region

Yes, economic activity has seen an upturn in recent months, and many industries are feeling the positive return of economic acceleration. With the improved fundamentals comes a change in the future of office space as evidenced with trends in law firms.

For starters, JLL research has found that growth revenue levels for AmLaw 100 firms slowed in recent years. And,… Read More

Law Firms Face a Commercial Real Estate Shift in Primary and Secondary Markets

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By: Robert Kramp, Vice President and Director of  Research, Jones Lang LaSalle, Midwest and Great Lakes Region

The national economy is looking up, and the momentum is expected to continue into the new year. However, in the midst of a market shift, the law firm market will meet new challenges in 2014. According to JLL’s newly released Law Firm… Read More