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Chicago & Midwest  + Downtown  + Office  |  July 25, 2018
Paul Bubny
By: Paul Bubny

Holland & Knight Adopts Law Firm Trend of Smaller Footprints

In common with several legal peers, law firm Holland & Knight is reducing its office footprint in Chicago. Crain’s Chicago Business reported that the firm is finalizing a deal to lease two floors at Riverside Investment & Development’s 150 N. Riverside, where it will relocate next year. The new space will be just over half as much as the 104,000 square feet it leases at the Citadel Center.

Over an 18-month period between January 2016 and June 2017, Chicago law firms occupying greater than 50,000 square feet reduced their space by an average of 23%. That’s more than twice the 11% average space reduction for all law firms in the city, according to CBRE.

While this has represented a headache for office landlords, growth in Chicago’s tech sector has helped offset the loss of law firm occupancy. Facebook, for example, has just committed to 263,000 square feet in the Loop.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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