Report | Washington DC Law Firm Outlook - 2015
Law firms in the Washington DC Metro area looking for large block Trophy space are finding challenges, with vacancy rates trending below 8 percent for this property type. Currently, firms are finding their best options through subleases or relets from others who have right-sized.
The Trophy space market is expected to soften starting in 2018, as a number of new projects are set to open that will add space options for potential tenants.
Overall, concession packages from landlords are at an all-time high, with TI allowances averaging $95 per square foot.
Our local Law Firm Perspective provides a thorough overview of the Washington DC market to help you better shape your strategy. We explore conditions across Washington DC’s submarkets, from rental rates—including premiums for Trophy space and discounts for Class B space—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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