Rightsizing By DC Law Firms Is Largely Over But M&A Activity Continues

DC’s K street

WASHINGTON, DC–DC-area’s law firms are just about finished their rightsizing — specifically, this process is about 75% complete, according to Cushman & Wakefield calculations. Starting in 2011 and continuing to the end of last year, C&W estimates there has been two-million-square feet of give-back by law firms in the area.

Interestingly, there were signs of a backlash against this multi-year push for space efficiency in the last quarter of 2017 when several firms expanded — major deals included Wilmer Hale, Morrison Foerster, K&L Gates, Akin Gump, Goodwin Proctor, and Paul Hastings — indicating that they may have underestimated their space needs.