Report | Long Island Law Firm Outlook - 2015
The supply of Trophy and Class A property for law firms looking to expand has decreased as a result of flight-to-quality in the office market. As a result, many large Long Island-based law firms are shifting their need for space towards Jericho and Melville, with limited availability in Garden City
Landlords market-wide are offering firms 10 months of free rent on average, with rent prices forecast to increase by an average of only 1 percent over the next 12 months.
Our local Law Firm Perspective provides a thorough overview of the Long Island market to help you better shape your strategy. We explore conditions across Long Island’s submarkets, from rental rates—including discounts for Class B space and TI allowances—to 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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