Stay or Go? Hogan Lovells and Mayer Brown Decide Differently

Renovate or relocate?

That’s the question faced by many firms when contemplating whether to renew a longstanding office lease or move. Existing space often doesn’t comport with the newer ways lawyers and staff use an office. But with rents often a law firm’s second biggest expense after compensation, the decision is complicated.

On top of the economic concerns, tastes have changed. Big corner offices have become passe, as most firms opt for a more egalitarian setup. Libraries and big secretarial spaces are relics of a pre-digital age, replaced by areas for group meetings or places to work that can more ...