May 29, 2020
The legal sector, which already has looked to maximize space efficiency, may be further evolving its real estate strategy in view of the COVID-19 pandemic. So says Colliers International in its annual report on the outlook for law firms across North America.
“Future trends in space occupancy and real estate strategy are being cast in a new light as the COVID-19 pandemic impacts all areas of business operations,” say Colliers’ Daniel Arends, Colin Scarlett and Stephen Newbold.
“While many real estate sectors will surely incorporate more aggressive work-from-home strategies, the jury is still out on whether the legal sector’s business functions can be run successfully through remote working.”
One possibility, the report says, is for law firms to move to a more distributed labor strategy, rather than locating all functions in one central office, and consider greater investment in artificial intelligence to undertake routine tasks.
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