2025 Fall Preview: Peter Shrair, Halloran Sage

What trends or shifts do you see shaping your industry this fall and into 2026? I believe that AI will play a more significant role. At a minimum, AI will expand in replacing so-called “form books”; and over time it will assist, within ethical constraints, in the review of documentation. As clients are more cost sensitive, I also believe that there will be less dependence on junior associates and having partners and senior associates not only develop more business, but complete more of the work associated therewith. I believe we will see more consolidation of small to mid-size firms with a broader geographic reach.

What’s one major project, initiative, or innovation your firm is focused on in the months ahead? Growth in the New England region should continue to increase. The firm has been mindful to curtail unnecessary expenses, which has allowed it to maintain favorable rates for clients. The incorporation of AI to assist attorneys keeping track of time and finding ways to use technology to capture erroneous lost time will be implemented.

What challenges or opportunities do you anticipate for your clients as the market heads into Q4? In Boston, vacancy has ticked up a bit and leasing demand appears to have softened a bit. Rents are mostly stable. While there’s a fair amount of vacancy based on overbuilding, which has taken place recently, Western MA offers relative affordability and good logistics. A 300-mi radius of Springfield reaches Montreal, Boston, Providence, NYC, Albany and Philly. While existing Tenants think they have more leverage in terms of renewals due to excess supply, the cost of moving is expensive. It appears logistics and distribution will continue to support the industrial market as E-commerce grows.

What are you most excited about for the future of your sector? From a mid-size law firm prospective, I am excited to see how AI will help us provide better services and more responsiveness to clients in a most cost-effective manner. Personally, spending most of my billable time working in the commercial industrial real estate market, I should continue to be very busy representing developers, landlords, tenants, lenders and borrowers as the practice area is rarely stagnant.