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Law firms play major role in creating most expensive streets in US

By Neasa MacErlean

16 December 2015 at 09:01 BST

The location law firms' offices has been crucial in underpinning the status and value of Fifth Avenue and other famous US streets, according to an analysis by commercial real estate specialists JLL.

Andrey Bayda

Discussing New York's Fifth Avenue - home to Weil Gotshal - JLL says: 'This street’s long-standing international reputation and strong name recognition are bolstered by the fact that many financial, law and private equity firms are leaseholders there.'

Los Angeles

Regarding the LA base of DLA Piper, JLL adds: 'Los Angeles’ Avenue of the Stars is outpricing the market’s average street by 79 per cent by catering to legal, financial and entertainment firms.'

Washington DC

Washington, DC's Pennsylvania Avenue is home to Cooley, Morgan Lewis & Bockius, Cleary Gottlieb Steen & Hamilton and other leading law firms, as well as to the President of the US. JLL says that the quality of the amenities in the area will ensure that it stays an attractive location. Source: JLL 


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