Law Firms Looking To Downsize

Dramatically changing the business model for law firms and look for the right size of their real estate portfolio over the next few years more, according to a new report from Colliers International. With the exception of a very high level law firms, flattening demand for certain types of legal services has created the need to reduce costs and real estate offers inviting target.
"Real estate is one of their biggest fixed obligations and of course to keep an eye on it," Steve Levitas, the firm's downtown Chicago office of Colliers' services director and a major law firm, tells GlobeSt.com.
Corporate users have made more efficient office footprints national trend right sizing, but the law offices face a very different challenge, he adds. "They close the office" and simply can not move to an open office plan. On the contrary, many law firms, both partners and associates, and other changes to the universal office is considering a switch between sizes, built-in flexibility to maximize the use of demountable wall partitions started. Law offices often "use the space as a recruiting tool, but as a junior lawyers may be concerned about how great their office." May
What is the legal development of disruptive technologies has changed the world. For example, the powerful software companies in complex litigation, created by Levitas says that you can use to analyze vast amounts of data, was "not in groups and teams who go through it, too." Customers still pay the high cost of legal services, but the process is reduced and the space required for the study will continue to depress the need for the firms.

Law firms grow with new offices, partners

Several Richmond-based law firms are increasing their headcounts with moves here in town and across the country.

Local law giant McGuireWoods has added a new partner and another office to its Los Angeles operation by merging with specialty litigation practice Integer Law Corp.

The deal has been in the works for several months and became effective April 1, said Terry Bagley, head of McGuireWood’s litigation practice. Four attorneys came over from Integer as part of the deal, including new partner Greg Evans.

“Several of our lawyers had had cases with Greg over the years and had developed a relationship with him and were extremely impressed with his capabilities,” Bagley said. “It’s sometimes difficult to find the right fit, but Greg is clearly the right fit.

He’s not only a great lawyer; he’s a great person.”
McGuireWoods’ new office is in downtown L.A., and the firm’s other location, which employs 63 lawyers, is located in nearby Century City. This newest office is the firm’s 21st worldwide.

Legal Revenue Grows as Elite Law Firms Set the Pace

Last year, on average, was the best year for law firms since the recession. But averages can be misleading.

Revenue at large, corporate law firms rose by close to 5% in 2014. But that’s mostly because a small group of elite law firms continue to thrive, while more than 100 others struggle to keep pace.

A field of around 15 to 20 law firms dominates the law market, industry observers say. Most are corporate heavyweights that benefited from the boom in mergers-and-acquisitions work last year, including Davis Polk & Wardwell LLP, Kirkland & Ellis LLP, Skadden, Arps, Slate, Meagher & Flom LLP and Sullivan & Cromwell LLP.

At the 15 most-profitable firms, revenue increased 6.6% on average, according to data collected by Citi Private Bank’s Law Firm Group. That compares with a 4% increase across 170 other law firms surveyed by Citi.

http://www.wsj.com/articles/legal-revenue-grows-as-elite-law-firms-set-the-pace-1428269775

Stead Law Firm

Bechakas law firm leases Williamsville space

The newly-formed Bechakas and Bechakas LLP law firm has opened a Williamsville office.

Founded by the Stacy and Cheryl Bechakas, both of whom previously worked for the Hogan Willig law firm, the couple has leased 2,500-square-feet in the Townsend Square Building, 5350 Main St.

The lease was brokered by Joseph Farrauto from Hunt Commercial Real Estate.

Law firm on staying downtown: ‘Dayton has a bright future’

While it looked inside and outside of downtown Dayton when considering its new office, civic reasons are keeping Dinsmore & Shohl LLP in the central business district, its managing partner says.

“Of course there was a business element in it too, that downtown is centrally located,” said Fred Caspar, who leads the Dayton operations of the Cincinnati-based law firm. “But we consider ourselves a Dayton-to-Dayton office. And a city needs a vibrant core.”

Caspar has worked downtown since 1984, and he said when it came time to consider what to do with Dinsmore’s 90-employee Dayton operation, downtown won out. The law firm is consolidating its two downtown offices into one in the Fifth Third Center building with a 10-year lease for 34,000 square feet of space there.

New commercial litigation law firm launches in Austin

Amy Beckstead and Jana Terry have joined forces to launch Beckstead Terry PLLC, an Austin-based employment and commercial litigation-focused law firm.

The two attorneys have a long history working in the world of commercial legal services. Beckstead, licensed in both California and Texas, previously worked for DLA Piper, a large international law firm. Terry has run a commercial litigation firm for the last three years after leaving Greenberg Taurig, one of the largest U.S. law firms.

"Amy and I have known each other for years and our approach to serving our clients is identical: We are laser-focused on providing incredibly responsive, strategic, and practical advice to our clients regarding their employment and commercial litigation needs," said Beckstead in a statement. "Business has been great for both Jana and me and it made sense to join forces to leverage our respective skill sets and optimize the services we could offer clients."

Day Care Receives Supplies from Law Firm

Students at Evansville's St. Vincent's Day Care Academy are feeling the benefits of generous donors.

Woods & Woods law firm stopped by the child care facility this morning to drop off new school supplies. Woods & Woods makes donations like this on a monthly basis.

"We pick a new charity every month that we work with," said Neil Woods, "and we do whatever we can. We call them up and see what they need, and we take them the items and the things that we collect."

Woods also said he enjoys seeing the students and predicts this is a group of future artists.