Duolingo amends Pittsburgh office lease, expanding space to 148,266 square feet
On March 4, 2024, Duolingo signed the First Amendment to its Pittsburgh office lease with 5704 Penn Office, LLC. The amendment adds 110,008 square feet starting August 1, 2025, for a total of 148,266 square feet, and extends the expiration date to April 30, 2036. The filing also discloses the added rent obligation, which means a longer fixed rent commitment for shareholders to weigh against the expanded space.
- First Amendment signed March 4, 2024 adds 110,008 square feet, bringing the total to 148,266 square feet beginning August 1, 2025.
- Initial base rent on the additional space is approximately $394,000 per month, rising about 2.0% per year, with roughly 9% increases in the third and fifth years tied to added parking access.
- Lease expiration extends to April 30, 2036.
- Landlord will provide an improvement allowance of up to approximately $6.6 million for design, permitting and construction.