Alston & Bird Testing Office Leasing Waters In Atlanta
Prominent Atlanta law firm Alston & Bird is hitting the streets for possible new office space.
Alston & Bird — the largest Atlanta law firm, with more than 800 attorneys and staff — has tapped Savills to search for new space in Metro Atlanta, possibly leaving One Atlantic Center in Midtown where it has been since the 1980s, the Atlanta Business Chronicle reported.
The firm has not said if it is considering downsizing from its 340K SF footprint at the 50-story tower as it looks to renew or relocate to another building.
But law firms have been shrinking their office presence across the U.S. for years now, Reuters reported. Two of the largest law firm leases in the country this year so far — Cadwalader, Wickersham & Taft in New York and Katten Muchin Rosenman in Chicago — both reduced their office square footage.
Law firms reduced their footprint by 14% on average for new leases in 2021 and 6% for renewals, a 2022 Cushman & Wakefield report indicated, but are trading up on the quality of office space to lure legal talent from law school.
Alston & Bird is coming to market early, which could indicate the firm is open to anchoring a new project, the ABC reported. The firm has five years left on its lease.