other material
confidence high
sentiment neutral
materiality 0.35
Duolingo signs 13-year lease for 38,000 sq ft Pittsburgh office
Duolingo, Inc.
- Lease effective Nov 16, 2021; base rent ~$148K/month escalating 2% annually.
- First-year rent abatement of $1.4M reduces monthly rent to approximately $2,500.
- Landlord provides improvement allowance of up to ~$2.3M for build-out.
- Early termination option effective Apr 30, 2030 requires ~$2.9M fee and notice by Apr 30, 2029.