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VIDEO: Colliers’ Daniel Arends Says “But Lawyers Still Want Their Own Space”

Following up Connect CRE’s recent Q&A with Daniel Arends, the Chicago-based head of Colliers’ North American law advisory group, Connect VP Sarah Quinn went on camera with Arends for a further discussion of the firm’s spotlight report on law firm occupancy trends. Compared to other office-using industries, the legal sector has seen less change in its occupancy requirements in the past few years, Arends said. 

“That being said, over the past two years law firms have had a really good opportunity to experiment with working remotely and you’ve seen them take full advantage of that,” he added. 

Asked whether law firms are configuring their spaces more similarly to other occupiers as a result of this experimentation, Arends said this hasn’t really been the case. “At the end of the day, lawyers still want their own space,” he said. 

In the video below, Arends also discusses whether law firms are likely to downsize with the next round of lease renewals, the question of concessions being higher in gateway markets and what’s likely to happen with the rent levels being charged for law firm tenants. 

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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 13-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 15-20 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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