Great Atlanta Law Office Available Near Braves Stadium

Spacious and law office sublease available near Braves Stadium in Atlanta.  This  LawSpace is perfect for an attorney desiring to network with numerous other lawfirms and attorneys.  The owners of this LawSpace sublease to attorneys in various practice areas, and pride themselves on creating, by subleasing to talented attorneys,  a welcoming and harmonious legal community.   

Do not miss an opportunity to share space with  lawyers with law practices in these areas:  real estate,  social security disablilty,  domestic, probate litigation, bankruptcy, consumer contract law, commercial real estate, international law and securities law, personal injury, criminal, divorce, business and civit lititatin and trial.  Joining this group of lawyers space sharing at this convienent location would be a plus for any attorney.   

 Office address:  1820 The Exchange Suite 150 Atlanta, Georgia 30339.

The office is approximately 177 square feet.   For more details  please contact Michael Mclaughin at 770. 952.5000.  

Need a convenient Alpharetta law space office rental? Here you go.

More and more attorneys these days are opting to work from their home offices, rather than sit in traffic and travel to a law office. This will work some of the time, but what happens when you need to meet with a client? Meeting at your home or at a public location is probably not the most professional approach. However, leasing law space can be expensive, especially if you are a solo practitioner and/or have a small law practice. Good news; there is an alternative. What about sharing office space with, or subleasing from, another attorney? Sharing office space or subleasing can dramatically cut costs which will enable you to meet your clients in a more professional setting, instilling your client's confidence in your abilities. Let's face it, appearances should not matter, but they do. They matter even more to clients you are trying to attract.

Check out this listing for office space in highly desired Alpharetta: Beautifully finished law space has 3 private offices, a conference room, 1 workroom/storage, 1 restroom, and a combined office in the back of the suite. This is one of the nicest condominiums rented at North Point Park. The square footage is 1175, but could expand into a bonus room for a total of 1,575 square feet. North Point Park office condominiums are conveniently located directly off North Point Parkway between Haynes Bridge and Kimball Bridge road. Please note that showings are by appointment only. Please do not disturb business. Available Oct. 1. Don't miss your chance on this one. 

Office Market Sector Still Slugish in Atlanta

According to a recent report from Grubb & Ellis Company, the 144.4 million-square-foot Atlanta office market in the third-quarter 2011 has a 22.9% vacancy level. The reasons appear to be related to slow growth, undercapitalized ownership and starving landlords. Class A office space in the metropolitan Atlanta area decreased 9 percent to $22.62 per square foot during the quarter, and Class B rates dropped 2 percent to $14.48. The inventory of available sublease space decreased to roughly 3.6 million square feet in the third quarter, according to Grubb & Ellis Company, a drop of approximately 315,000 square feet on the previous quarter. Why the continued vacancy rate? For starters, there is a drop in rental rates due to unemployment. (In the legal sector, July, 2011 brought an increase in unemployment claims for Georgia lawyers.) Secondly, tenants are not renegotiating leases and moving to new office space. Principal Dan Granot of Joel & Granot Real Estate, LLC noted that "some submarkets have been head-and-shoulders above others in terms of recovery, but I do not know if what we are seeing are the results of true absorption or just a game of 'musical chairs' playing out."

Atlanta tenants are supporting the trend of moving from older office space to newer office space where they can seek higher quality. The legal profession is no exception. For instance, the law firm Fisher & Phillips moved from a prominent Buckhead space to a Midtown space, siting new quality accommodations which supports Rob Binion's (associate broker at LaVista Associates, Inc.) theory that 2011 "has proven to be a year of "flight to quality".

According to Binion, a flight-to-quality trend is most evident in the Class A sector of the Buckhead market, "with the overwhelming share of positive absorption for the entire city occurring in here - at the expense of Class B buildings in Buckhead and every other submarket in town". In March, 2011, we posted an article noting law firms' reactions to landlord's response to lease renewals. Decline of concessions or re-negotiations of the lease was highlighted. The climate has not changed. Lack of incentives for providing incentives for beneficial lease renewal terms and thereby, helping prevent law firms from exiting current law office space is not necessarily derived from Atlanta landlords. Binion seems to uncover one of the reasons why landlords have been unable to provide appropriate concessions to retain law firms: owners of these buildings have no capital available to pay for lease-up expenses, such as marketing, advertising, tenant improvement allowances to commissions and credit checks. If owners and/or venture capitalists holding (equity or debt) in Atlanta office buildings have dry coffers, the sluggish recovery will continue.

Simply, there are no funds available for needed improvements and marketing techniques. According to Binion, the " flight to quality" will accelerate. This leaves the owners of older Class B and C buildings effectively pulling themselves out of the leasing market until more funds are available to provide necessary factors or retaining tenants. Metro Atlanta landlords will have to remain aggressive in order to compete at least through 2012, according to Russ Jobson, Senior Vice President and Principal in Colliers International (Atlanta office). The decline of the recovery of the Atlanta office market sector directly influences the sublease submarket. If tenants cannot negotiate better deal terms for even a short term lease, their option for subleasing their space is a viable option. Additional "dark space" is not an option for profitable law firms. Atlanta law firms and other law firms around the country are turning to, an exclusive site for lawyers posting their empty law space and sharing law space with lawyers.

On the other hand, if the "flight to quality" continues, according to Binion's theory, law firms may relocate to a space which more appropriately accommodates the number of lawyers currently employed. Notes: Atlanta Business Chronicle, Commercial Real Estate Section, November 4-10, 2011. See Also: Law Firms with Unused Offices, Persistence of the Economic Downturn Forces a New Legal Landscape , Law Firms - Don't Use Your Empty Offices For Storage - It's a Waste

Lawyers: Don't Sign a Long Term Lease - Sublease space instead

Even lawyers are having a hard time finding a job in these economic times. And solo practitioners are hesitant before signing a long term lease usually requiring a personal guaranty. The good news is attorneys are sharing space and simultaneously saving money and improving business. There are many benefits of sharing law space.

The cooperative spirit of a group of attorneys who practice with each other is invaluable. Water cooler discussions lead to the exchange of valuable expertise with other lawyers and perhaps even a referral for a case or work project. This does not occur when an attorney practices law from home or a coffee shop. Another benefit of sharing law space is creating a better image in the eyes of clients. Attorneys are forming associations when they share space and link they names on the letterhead. They are setting themselves out as attorneys who are part of a law firm, even though they are neither partners nor sharing profits. Instead these lawyers are sharing expenses and saving money.

While there are State Bar rules governing the representation of a law firm where the lawyers are space sharing, the bottom line of disclosure to the client may be easily addressed in the retainer agreement. The retainer agreement with the client should clearly indicate that the lawyer is a professional corporation, a limited liability company or solo practitioner, and he or she is not an associate or partner of a law firm. (Each state has varying rules so check the State Bar for further reference). These guidelines may be easily met. Expansive letterhead of the association of lawyers sharing office space may show a client a more impressive image and office space than any one single lawyer could afford on her own. Expenses of copy machines and other office equipment are much less burdensome when costs are divided among space sharing lawyers.

The bottom line: an attorney may receive more for office rental dollars. Everything from water to paper may be shared and as long as there is a clearly written space sharing agreement, the arrangement adds prestige and cost savings. Attorneys are not signing long term leases; instead space sharing is a beneficial and prevalent concept. Of course, choosing with whom you wish to share office space is an individual choice and should be closely examined. In 2010, Elaine M. Russell created, a service that matches lawyers seeking to sublet space with unoccupied office space at compatible law firms around the country. Law office space and attorney profiles may be viewed at Elaine M. Russell is a corporate and business attorney representing clients throughout Georgia and has an office located in the Buckhead section of Atlanta. See Also: A Resolution for Student Debt?, , Law Firms - Don't Use Your Empty Office Space for Storage - It's a Waste

Atlanta Office Space Glut Mirrors Situation Nationwide and Provides Opportunity for Attorneys

As we mentioned in my previous post, "I Can't Get No Satisfaction Looking for a New Law Office in Atlanta", unused law offices exist. Commercial vacancy rates in Atlanta increased by almost 2 percent between the end of 2009 and 2010. Cushman & Wakefield reported this as the highest overall vacancy rate in Atlanta (including direct and sublease space) since 2004. 

Despite this, sublease vacancies in Atlanta did decrease steadily during 2010 to just below 2.7 million square feet. As one of the country's most vibrant cities, Atlanta is usually ahead of national economic improvement trends, but overbuilding in the commercial building sector before the economic downturn in 2008 left the market with an overabundance of commercial space. Other cities like Phoenix and New York are also experiencing this issue due to overbuilding, while key Midwest markets such as Chicago, Cleveland and Detroit are suffering due to slow redeployment of the workforce. In most markets, the continuation of downsizing efforts combined with consolidation of businesses in 2010 has made the recovery difficult. While the lagging economic indicators may dishearten landlords and commercial developers, conditions are ripe for bargain hunters or any individual looking for a place to hang a shingle for their business. Many commercial landlords are offering leasing at discounted rates to lure prospective clients, while some high-end developments are providing luxury amenities for little or no cost in an effort to boost occupancy rates.

Perhaps most intriguing is that subleasing opportunities abound as businesses seek to rent out unused office space that is damaging to profits. Many law firms fall within this category. These firms cut back on staff and currently have open offices that can be filled with professionally compatible lawyers in need of an executive environment in which to operate. Especially for law firms, the right match can benefit both parties well beyond the landlord/tenant arrangement. 

In 2010, Elaine M. Russell created, a service that matches lawyers seeking to sublet space with unoccupied office space at compatible law firms around the country. Elaine M. Russell is a corporate and business attorney representing clients throughout Georgia. Elaine's office is located in the Buckhead section of Atlanta. Resources: C&W: Atlanta's Office Market Shows Improvement in 2010, Posted January 6, 2011, City Biz Real Estate