JLL’s 2015 Law Firm Perspective has been released, and it reveals that competition for commercial office space in Boston’s legal sector is intensifying, with vacancy in the highly sought after Financial District its lowest since 2009.
This is forcing law firms to look elsewhere, namely the Seaport and the Back Bay. 888 Boylston Street is expected to deliver in 2016, and with only 30 percent of the building preleased, it should be a great opportunity for tenants seeking space in the Back Bay. The Seaport is also emerging as a go-to location for law firms and companies of all industries across the Boston region, but will come at a price slightly higher than the financial district.
As a result of this competitive market, and the need to keep costs down, JLL Managing Director Ben Heller is advising law firms in the area to prepare as they look forward to where the market is going in the future.
I encourage you to watch Ben’s video and download JLL’s complete 2015 U.S. Law Firm Perspective report for our look at creating opportunities in a growth economy. Please don’t hesitate to contact me or Ben for additional information.