Report | Cleveland Law Firm Outlook - 2015
Cleveland law firms are finding it hard to acquire reserved, climate-controlled parking downtown, which is limiting the number of reserved spaces they can secure in their lease agreements with landlords. In the CBD, another issue that firms face is the lack of signage opportunities on existing assets.
Several new construction projects have been proposed in the city, though current new construction is limited. This has tenants paying a premium upwards of 50 percent for newly available space.
There are potential leasing opportunities for tenants looking for large blocks of space, due to rightsizing among several of Cleveland’s corporate tenants over the last 18-24 months.
Our local Law Firm Perspective provides a thorough overview of the Cleveland market to help you better shape your strategy. We explore conditions across Cleveland, from rental rates—including premiums for Trophy space and discounts for Class B space—and demand among professional and business services firms.
(Click here to see an overview of 2015 national law firm trends and market comparisons.)
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