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Duolingo, Inc., the language learning platform, has expanded its office space by entering into the First Amendment to its existing Lease Agreement on March 4, 2024. The amendment increases Duolingo's leased office area by an additional 110,008 square feet, bringing the total to 148,266 square feet, effective from August 1, 2025. This expansion, located at Liberty East, 141 South Saint Clair Street, Pittsburgh, Pennsylvania, extends the lease term to April 30, 2036. The monthly base rent for the initial space will rise to approximately $188,000 starting June 16, 2035, while the rent for the new space will be about $394,000 per month, with a 2.0% annual increase, except for the third and fifth years which will see a 9% increase due to additional parking access. Additionally, Duolingo will receive an improvement allowance of around $6.6 million for the design and construction of the new space. This financial commitment was also reported under the SEC's Form 8-K, and the full details of the First Amendment will be included in Duolingo's upcoming Quarterly Report for the fiscal quarter ending March 31, 2024.
Duolingo, Inc., the language learning platform, has expanded its office space by entering into the First Amendment to its existing Lease Agreement on March 4, 2024. The amendment increases Duolingo's leased office area by an additional 110,008 square feet, bringing the total to 148,266 square feet, effective from August 1, 2025. This expansion, located at Liberty East, 141 South Saint Clair Street, Pittsburgh, Pennsylvania, extends the lease term to April 30, 2036. The monthly base rent for the initial space will rise to approximately $188,000 starting June 16, 2035, while the rent for the new space will be about $394,000 per month, with a 2.0% annual increase, except for the third and fifth years which will see a 9% increase due to additional parking access. Additionally, Duolingo will receive an improvement allowance of around $6.6 million for the design and construction of the new space. This financial commitment was also reported under the SEC's Form 8-K, and the full details of the First Amendment will be included in Duolingo's upcoming Quarterly Report for the fiscal quarter ending March 31, 2024.
语言学习平台Duolingo, Inc. 于2024年3月4日签署了现有租赁协议的第一修正案，从而扩大了其办公空间。该修正案将Duolingo的租赁办公面积又增加了110,008平方英尺，使总面积达到148,266平方英尺，自2025年8月1日起生效。该扩建项目位于宾夕法尼亚州匹兹堡市南圣克莱尔街141号的自由东部，将租期延长至2036年4月30日。从2035年6月16日起，初始空间的月基本租金将提高到约18.8万美元，而新空间的租金将约为每月39.4万美元，每年增长2.0％，但第三和第五年除外，由于增加停车通道，第三年和第五年将增长9％。此外，Duolingo将获得约660万美元的改善补贴，用于新空间的设计和建造。该财务承诺也在美国证券交易委员会的8-K表格中进行了报告，第一修正案的全部细节将包含在Duolingo即将发布的截至2024年3月31日的财季季度报告中。
语言学习平台Duolingo, Inc. 于2024年3月4日签署了现有租赁协议的第一修正案，从而扩大了其办公空间。该修正案将Duolingo的租赁办公面积又增加了110,008平方英尺，使总面积达到148,266平方英尺，自2025年8月1日起生效。该扩建项目位于宾夕法尼亚州匹兹堡市南圣克莱尔街141号的自由东部，将租期延长至2036年4月30日。从2035年6月16日起，初始空间的月基本租金将提高到约18.8万美元，而新空间的租金将约为每月39.4万美元，每年增长2.0％，但第三和第五年除外，由于增加停车通道，第三年和第五年将增长9％。此外，Duolingo将获得约660万美元的改善补贴，用于新空间的设计和建造。该财务承诺也在美国证券交易委员会的8-K表格中进行了报告，第一修正案的全部细节将包含在Duolingo即将发布的截至2024年3月31日的财季季度报告中。
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