Lease Rate:$1 /Month
DRASTICALLY REDUCED-All Offers ConsideredThe law firm is in Yuma, Arizona that focuses primarily on bankruptcy, family, and criminal law. The Practice represents clients in the local Yuma, Arizona area where the primary office is located. The Practice remains a small solo practice with current owner being the only practicing attorney.
An appraisal was completed in June of 2018 and is available for qualified parties.
During 2017, law firms continued to raise their standard rates by approximately 3.1% and their worked rates (or agreed) increased by 3.0%. Expense growth has remained constant and modest since 2012 indicating firms have done a good job at managing their expenses. This is in stark contrast to the time-period before the Great Recession when expense growth sometimes exceeded revenue growth. As law firms have reduced their capacity since the last downturn, the concern is their ability to respond to demand when the next downturn arrives. As the average economic expansion lasts about 4.9 years, we are currently in the eighth year of our latest expansion. That would be an indicator that the next downturn is not far away. When that happens, law firms are expected to have far less capacity to deal with its adverse effects than in 2007. With this in mind, we would expect an increase in the demand for bankruptcy services in the coming years.
Real Estate:LeasedBuilding SF:1,000Lease Expiration:N/AFurniture, Fixtures, & Equipment (FF&E):Included in asking priceFacilities:Office building – relocatableCompetition:Few attorneys in Yuma and fewer in the Bankruptcy Court.Growth & Expansion:Additional services as well as potential increase in BK cases.Reason for Selling:Bankruptcy