NEW YORK CITY—Cushman & Wakefield and ALM Legal Intelligence, sister organization to GlobeSt.com, on Monday launched the second annual National Legal Sector Benchmark Survey on key drivers influencing law firms' real estate decisions. It follows up a 2013 survey that was shared with legal professionals representing more than 250 law firms across 26 states. “Both large and small firms have benefitted from and used this assembled knowledge to improve their standing in a very competitive marketplace,” says Sherry Cushman, executive managing director and head of the legal sector advisory group at C&W.
A spokesman for C&W says this is the first year that C&W has partnered on the survey with ALM, a leading provider of detailed business information and competitive intelligence about the legal industry to top US and international law firms and their clients, including the Am Law 100 and 200. Twenty-six percent of last year's survey respondents were Am Law 200 firms based on revenue.
The survey, which will be administered through August 31, poses 75 questions to the law-firm respondents, including global real estate directors; chairmen; executive directors; managing and real estate partners; and senior administrators. Based on its analysis, C&W will produce a statistics-based report with projections on how law firms can capitalize on real estate to leverage their position in the marketplace.
“Understanding the changing needs of our legal sector clients and those of the competitive landscape are critical to the design of our strategic plans,” says Jim Underhill, Americas CEO for C&W. “Collecting and leveraging this knowledge helps us transform our clients' real estate into a competitive asset supporting their growth and success.”
Law firms interested in participating in the 2014 National Legal Sector Benchmark Survey should contact Sherry Cushman by email or by phone at (202) 471-3595 to request a hard-copy survey or an online link. All responses are blind and therefore anonymous.
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