Greenberg Traurig Executive Chairman Richard Rosenbaum was featured in The American Lawyer's recent examination of law firm leasing trends, which found that while many Am Law firms are reducing their overall office footprints, real estate costs continue to rise as firms compete for premium office space in key markets.
Am Law 200 firms leased slightly less space in 2025 than in 2024 yet collectively spent significantly more on occupancy costs. Industry analysts cited rising construction expenses, inflation, limited new office development, and continued demand for Class A and trophy office space as primary drivers of the trend.
The article highlighted Greenberg Traurig's disciplined approach to growth and office space strategy, noting the firm's significant global expansion while maintaining a focus on efficiency and client value. Rosenbaum explained that the firm prioritizes investing in talent and client service over excess space.
"The days of just having giant palaces and that kind of thing, we don't really believe in paying more than we have to," Rosenbaum told The American Lawyer. "We'd rather pay it for new talent and existing talent and delivering value to clients."
Rosenbaum pointed to Greenberg Traurig's recent signing a new lease for a planned West Palm Beach office relocation as an example of how the firm is embracing modern workplace trends by creating high-quality, collaborative environments that accommodate growth while using space more efficiently. His comments reflect a broader shift across the legal industry toward strategically designed offices that support flexibility, collaboration, talent attraction, and client service, rather than simply increasing square footage.
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Read "Big Law's Leasing Costs Rise Even Amid Decline in Square Footage." (subscription)