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Financing for the Modern Law Firm Office

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Updated quarterly, this curated page delivers timely insights tailored to your industry. This quarter, we’re focusing on office buildout and renovation projects for law firms. Below, you’ll find insights to support your planning process, along with financing strategies to help bring your workspace vision to life. 

Industry Insights

Featured Industry Insights

Financing for the Modern Law Firm Office

According to a recent report from Savills, law firms now account for approximately 10% of total U.S. office leasing activity, more than double their pre-pandemic share.1 Rather than retreating from physical space, many firms are committing to high-quality, Class A buildings that support evolving workplace strategies.

Law firms are investing in premium, flexible, tech-enabled office spaces that support hybrid work and enhance collaboration and culture. While these modern environments can serve as strategic assets for client engagement and talent recruitment, they often require significant capital investment.

Office Investment Trends in the Legal Industry

Firms continue to migrate to top-tier buildings that offer flexibility, amenity-rich interiors, and client-focused environments. Investments increasingly include hospitality-style reception areas, coffee stations, lounges, higher-end finishes, and modular furniture systems designed to adapt as needs evolve.

According to a recent report, 68% of major law firms now mandate 4 days in-office attendance.2 As a result, space allocation is shifting towards collaboration and mentoring with flexible meeting rooms, hoteling desks, and dedicated focus areas replacing traditional layouts.

Technology infrastructure has become a core component of office planning. High-end A/V systems, room-booking systems, and advanced conference room technology help ensure seamless hybrid collaboration. Many firms are also enhancing network infrastructure to support bandwidth, security, and long-term scalability.

Real estate decisions are increasingly influenced by sustainability and operational performance. Firms are incorporating energy-efficient systems, sustainable materials, and smart building technologies into their buildouts, while pursuing WELL and LEED certifications in new spaces. These investments reflect both client expectations and long-term cost considerations.

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Group of colleagues in the office.

Why Leasing Can Deliver More Value Than Ever

Firms continue to migrate to top-tier buildings that offer flexibility, amenity-rich interiors, and client-focused environments. Investments increasingly include hospitality-style reception areas, coffee stations, lounges, higher-end finishes, and modular furniture systems designed to adapt as needs evolve.

According to a recent report, 68% of major law firms now mandate 4 days in-office attendance.2 As a result, space allocation is shifting towards collaboration and mentoring with flexible meeting rooms, hoteling desks, and dedicated focus areas replacing traditional layouts.

 

Technology infrastructure has become a core component of office planning. High-end A/V systems, room-booking systems, and advanced conference room technology help ensure seamless hybrid collaboration. Many firms are also enhancing network infrastructure to support bandwidth, security, and long-term scalability.

Real estate decisions are increasingly influenced by sustainability and operational performance. Firms are incorporating energy-efficient systems, sustainable materials, and smart building technologies into their buildouts, while pursuing WELL and LEED certifications in new spaces. These investments reflect both client expectations and long-term cost considerations.

Fund your project strategically with First American, a preferred lender for law firms.

Financing Solutions Aligned with Your Firm’s Strategy

Business leaders are prioritizing strategic financing to enhance office design and space, helping ensure every investment drives maximum value and impact.

Optimize tax and accounting treatment

Financing furniture, fixtures, and equipment with an operating lease can streamline accounting by replacing large, capitalized purchases with predictable operating expenses. Instead of depreciating substantial FF&E investments over time, firms can treat lease payments as budget-aligned operating costs. This approach may also help reduce the risk of phantom income by better matching tax deductions with the firm’s actual cash outflows and partner distributions.

Create fairness among current and future partners

Office buildouts deliver value for many years, sometimes well after the partners who approved the investment have moved on. While purchasing may allow current partners to capture Section 179 or bonus depreciation, those benefits are concentrated in the year of acquisition. Leasing spreads costs over time, which may create more opportunity for equitable allocation of costs across the partners who benefit from the space.

Preserve capital and support partner distributions

Redirecting capital toward higher-value initiatives can strengthen a firm’s long-term position. Financing FF&E avoids tying up significant cash in a single buildout, helping maintain liquidity for strategic projects or growth opportunities. It also helps supports steady partner distributions while the firm modernizes its office space.

Financing Solutions Aligned with Your Firm’s Strategy

Business leaders are prioritizing strategic financing to enhance office design and space, helping ensure every investment drives maximum value and impact.

 

Tax document with checkboxes and a pen.

Optimize tax and accounting treatment

Financing furniture, fixtures, and equipment with an operating lease can streamline accounting by replacing large, capitalized purchases with predictable operating expenses. Instead of depreciating substantial FF&E investments over time, firms can treat lease payments as budget-aligned operating costs. This approach may also help reduce the risk of phantom income by better matching tax deductions with the firm’s actual cash outflows and partner distributions.

Three simplified people figures standing together.

Create fairness among current and future partners

Office buildouts deliver value for many years, sometimes well after the partners who approved the investment have moved on. While purchasing may allow current partners to capture Section 179 or bonus depreciation, those benefits are concentrated in the year of acquisition. Leasing spreads costs over time, which may create more opportunity for equitable allocation of costs across the partners who benefit from the space.

Bank building icon with a dollar symbol above.

Preserve capital and support partner distributions

Redirecting capital toward higher-value initiatives can strengthen a firm’s long-term position. Financing FF&E avoids tying up significant cash in a single buildout, helping maintain liquidity for strategic projects or growth opportunities. It also helps supports steady partner distributions while the firm modernizes its office space.

A Client Centered Approach to Success

Move your office project forward with financing backed by decades of consistent performance.

 

Legal Industry Specialization

Law firms face unique operational complexities, and our deep industry alignment enables us to tailor financing solutions to help firms drive growth, improve efficiency, and support long-term success.

Streamlined Support

Office buildouts require careful coordination, and having the right support makes all the difference. Each client works with a dedicated Project Manager who oversees vendor payments, and construction pay applications—helping to create a smooth, stress-free experience. 

Project Expertise

Construction projects depend on timely payments to stay on track, but managing cash flow for deposits and supplier payments can be challenging. Our customized short-term credit facility helps maintain seamless cash flow, prevent delays, and keep projects on schedule. 

Trusted by Leading Law Firms

$48.8MM, DC Law Firm (Am Law 100)

Financed high-end office furniture, A/V, and personal property for a state-of-the-art headquarters and penthouse patio using an operating lease.

Outdoor office terrace with cityscape and sunlight.

$13MM, WV Law Firm (345 Atty.)

Developed a multi-office renovation financing plan with a rate lock during the construction phase to maximize tax benefits and mitigate interest rate risk.

Two professionals walking through a bright office atrium.

$20.7MM, MA Law Firm (Am Law 200)

Secured a 2-year rate lock for all costs above the TI allowance for their Boston headquarters, providing an interest-only fixed rate construction financing facility for 24 months followed by a 7-year lease term.

Modern glass office buildings surrounded by trees.

Join us on the Road!

Looking forward to participating in some upcoming legal industry conferences and hope to see you there!

  • ALA National | April 12-15 
  • ILTACON 2026 | August 23-27 
  • Thomson Reuter’s 25th Annual Law Firm COO & CFO Forum | October 21-22
  • ALA D.C. Chapter Events
  • ALA Boston Chapter Events
2023 TR Conference

Commercial Card Program

First American presents City National Bank's Visa® Commercial Card that allows businesses to customize their program to meet their specific needs. Used as a business credit card for everyday expenses or a purchasing card for travel and entertainment, this card program offers convenient buying power along with the ability to easily monitor and manage employee expenses online. 

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Tap into the expertise of one of the country’s largest equipment finance companies.3 Tell me your business needs and we can start exploring funding options today.

1Savills, US Law Firm Activity Report Q4 2025

2BCG Attorney Seach, Remote Work in Law Firms Report 2025-2026

3Source: 2025 Monitor 100