2026年律师事务所报告：影响法律行业及其房地产的趋势

Trends Impactingthe Industry and Introduction C O N T E N T S Law firms in the United States and Canadaare beginning to reshape their real estatestrategies — driven by the continuedmomentum of return-to-office (RTO)policies and mandates, evolving workplaceexpectations, shifting talent dynamics, and Introduction2Office Market Overview3Market Performance5Select Key Trends Facing the Legal Industry6Trends Across Class A Properties in the U.S.8Evolution of Law Firm Real Estate142026 Law Firm Survey: Key Takeaways15Outlook18Atlanta20Austin21Boston22 DetroitLos AngelesManhattanMinneapolisNashvillePittsburghPortlandSalt Lake CitySan Diego Office Market Overview U N I T E DS T A T E S The U.S. office market shows early signs of recovery in many major metros as corefundamentals stabilize. Nationally, the vacancy rate has begun to decline. Stronger demandfor high-quality, amenity-rich space continues to lead the rebound, supported by increasedoffice attendance. Recovery remains uneven and highly divided by asset quality and location, More than 50% of markets are moving towards recovery, with only a handful encounteringsignificant occupancy losses in 2025. Manhattan continued to lead the country with record-high absorption and pre-pandemic leasing volume, as the legal sector had its second- The spread of RTO mandates is boosting many local markets. Law firms and financialservices companies were at the forefront in many markets, with many seeking to bring backprofessional and administrative staff for almost 4 days per week. Office space continues tobe utilized for employee retention and attraction, while creating client-facing spaces to host Leasing decisions by law firms in 2026 will be hyper-focused on the local market, supportedby deeper evaluation and a better understanding of the driving fundamentals and forecasts.Companies will continue to assess all their real estate holdings and leases, seeking to improveefficiency by upgrading to newer buildings or spaces. In most markets, landlords are being 18.2%U . S .V A C A N C Y 18.6M2 0 2 5 N E T A B S O R P T I O N ( S F ) C A N A D A Canada’s office leasing market ended 2025 with momentum, driven by renewed efforts toimprove RTO policies amid a declining development pipeline and tightening availability inprime downtown nodes. Strong absorption trends in Toronto, Calgary, and select suburbanmarkets, combined with an 85% reduction in new office construction over the last five years, Against this backdrop, Canada’s legal services sector demonstrated a clear recommitmentto physical office space in 2025, using real estate as both a talent magnet and branddifferentiator. Large national and international firms like Blake, Cassels, & Graydon, MillerThomson, and DLA Piper anchored long-term leases in downtown trophy locations — andengendered renewed confidence in sustained in-office collaboration and client-facing work.Regional expansions and relocations across markets like Vancouver, Calgary, Ottawa, and Looking ahead — and perhaps beyond 2026 — Canada’s law firms are expected to deepentheir commitment to intentional office use by prioritizing quality over quantity, cultureover density, and flexibility over uniformity. With vacancy tightening in top-tier locationsand limited new supply, competition for quality space is likely to intensify, as it has in the Market Performance Rents:Asking rents are starting tofall in more U.S. markets, as theyreset to the new market rates.However, the limited new supplyand focus on the top tier of themarket is driving rents in the trophyproperties. Canada’s office leasingmarket remains bifurcated: a “flight Vacancy:The overall U.S. officevacancy rate ended 2025 at18.2%, down from the peak of18.4% in the second quarter of2025. However, vacancy remainedhigher in CBDs than in thesuburbs. Canada’s office sector Construction:New developmentcontinues to contract as costsfor new construction remain highand capital for new buildings isscarce. The U.S. pipeline totaledonly 25.8M SF, a dramatic drop Demand for Quality:Demand and leasing improved in manyU.S. markets, with 53% postingpositive net absorption for theyear. Net absorption was 18.6M SFfor 2025, the highest annual totalsince 2019. Canadian occupiers Select Key Trends Facingthe Legal Industry Talent Attraction and Retention a Major Focus:The legal sector is facing intense competition for talent, driven byincreasing client demands, heightened employee expectations,and rapid technological advancements. Law firms are activelypursuing top talent and innovation, and both compensation Evolving market dynamics have led midsize firms to gainmarket share as clients seek greater value, promptinglarge firms to emphasize their specialized expertise, whilesmaller firms recruit qualified attorneys to handle growingworkloads. Firms must also adapt to the changing priorities AI Integration and the Impact on Office Design:Theadoption of AI technology has become a defining force inwork