Your honor, Your honor

The last thing the world needs is more lawyers, right? Well that doesn’t seem to be the case as the economic downturn and the slow recovery has prompted a hiring wave among law firms. The economy has fueled big-ticket practices like mergers and acquisitions, capital markets and corporate litigation lawyers say. Also with the downturn came a need for bankruptcy and other debt and equity type restructuring. An encouraging gauge on the appetite for legal services is the mergers and acquisitions market. It’s up as corporations that had been hoarding cash during the downturn are now spending it to buy other companies to grow market share. One attorney was quoted saying “There will be a lot of lingering problems to keep people busy for a long time” So what does this mean for commercial real estate? Yup, you guessed it that those law firms will most certainly have to put that help somewhere either in a closet (probably not) or a nice corner office with a few requiring new space. Only time will tell but my glass is half full.