Innovative, Pittsburgh-born education technology company takes 16,500-SF at prime downtown property
The Davis Companies (TDC) announced today that it has executed a 16,500-square-foot lease on floors 10 and 11 of the Union Trust Building with Carnegie Learning, an organization dedicated to improving math learning through a combination of textbooks, adaptive software, and professional development services. Founded in Pittsburgh in 1998, Carnegie Learning is relocating its headquarters, and was attracted to UTB’s unique blend of historic charm, cutting-edge amenities and modern, collaborative space - a blend that echoes Pittsburgh’s continued resurgence.
Carnegie Learning’s lease follows TDC’s unveiling of its $100 million redevelopment of the Union Trust Building - an architectural icon located at 501 Grant Street, overlooking Pittsburgh’s Mellon Square. TDC’s restoration, designed by Boston-based Elkus Manfredi Architects, brings modern amenities to the building, while celebrating its original splendor delivered 100 years ago by the renowned industrialist Henry Clay Frick. The building is now a lively downtown destination with social gathering spaces, contemporary offices, prime retail and restaurants, and top-tier amenities. It is directly adjacent to the Mellon Bank Center light rail public transit stop and numerous bus lines, and surrounded by boutiques, eateries, residential properties, hotels and parks.
“The Union Trust Building is the perfect fit for our headquarters as we evolve our brand and rethink how students learn and apply math beyond the classroom. We were founded in Pittsburgh, and are thrilled to maintain our headquarters in this dynamic and tech-centric city,” said Carnegie Learning CEO Barry Malkin. “Our new space provides the modern, collaboration-focused environment our team desires to build world-class products and services for students globally.”
“Carnegie Learning’s mission reflects our vision for the Union Trust Building, a dynamic destination that supports forward-thinking companies that are advancing culture, education and commerce,” said Jonathan G. Davis, CEO and founder of The Davis Companies. “We look forward to watching UTB’s tenants launch their next chapters as the building does the same following its revitalization.”
Carnegie Learning joins Nokia, a global leader in technology services; Truefit, a Pittsburgh-based software technology innovation firm; Blank Rome, an international, multi-disciplinary law firm; Amec Foster Wheeler, a global engineering and project management firm, and Novitas Solutions, a medical payments processing firm at the Union Trust Building. Union Standard, Pittsburgh Chef Derek Stevens’ first solo restaurant venture, and Eddie V’s, a nationally renowned seafood restaurant, are also coming to the building’s ground floor. Union Standard will be a vibrant and inviting space, designed to combine the comfort of a home-cooked meal with the elegance of a special occasion, while Eddie V’s will provide guests with an unparalleled fresh and elegant dining experience.
Constructed in 1917 by the industrialist Henry Clay Frick, the Union Trust Building’s ornate Flemish-Gothic design makes it one of the most prominent pieces of the city’s architectural heritage. The fully updated property, which was renovated as a Certified Historic Rehabilitation under the demanding standards of the U.S. Department of the Interior, boasts nearly 500,000 square-feet of Class-A retail, office, tech-startup and amenity space, offering tenants a dynamic, modern work environment in the heart of Pittsburgh’s newly reinvigorated downtown area. TDC repositioned nearly 40,000 square-feet of ground-level retail space to establish an indoor and outdoor environment lined with restaurants, cafes and coffee shops for tenant and public use. The building also includes a 190-space underground parking garage with on-site bicycle storage, as well as a 5,000-square-foot, state-of-the-art fitness center. The building's 70-seat conference facility and 400-seat auditorium are both completely renovated to 21st century standards.
The Davis Companies was represented in the transaction by Jason Stewart, Executive Vice President at JLL. Carnegie Learning was represented by Nick Francic, Senior Vice President at JLL.
About The Davis Companies
Committed to excellence in both investment performance and operations, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested over $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet across the Eastern United States.
About Carnegie Learning, Inc. (www.carnegielearning.com)
Carnegie Learning is a provider of innovative, research-based mathematics software, textbooks, and professional development services for middle and high schools. Providing differentiated instruction across the United States, Carnegie Learning is helping students to succeed in math as a gateway to graduation, college, and the 21st-century workforce. Carnegie Learning, located in Pittsburgh, is the sole source provider of Cognitive Tutor® and MATHia® Software for students in grades 6-12. Carnegie Learning®, Cognitive Tutor® and MATHia® are registered trademarks of Carnegie Learning, Inc. For more information, visit www.carnegielearning.com.
