According to a recent Cushman & Wakefield survey, roughly two-thirds of law firms polled spent 4-7% of gross revenue on real estate last year. While firms have been downsizing, some still spend millions of dollars on physical offices. This year, however, the practice of law has greatly shifted with many lawyers utilizing virtual offices.
Open office space was a concept many deemed to be the ultimate solution in workplace collaboration and company success. Touted as the perfect arena for brainstorming sessions that would inevitably breed the best products and services available on the market and the environment for which the strongest collaborations would be born, open office spaces were idealized as the new definition of a company’s culture: friendly, innovative, and team-focused.