Avenu Renews Commitment to Paramount Exchange Building & Announces Lease with Anchor Tenant, Forest Devices

Avenu, the co-working campus in the Pittsburgh Innovation District, today announced that it extended its lease at the historic Paramount Film Exchange Building in Pittsburgh’s Uptown neighborhood, marking a renewed commitment to supporting innovation, entrepreneurship and development in Uptown. The agreement with property owner/developer, PFX, Inc. allows Avenu to continue its operations in the building through 2022 and demonstrates a multi-year focus on the part of the Innovation District to turn its reality of leveraging the innovation, research and development occurring in Oakland and Uptown as an engine of innovation serving Pittsburgh and the world. 

Avenu also reached an agreement with Forest Devices whereby the medical device startup serves as the Paramount Building’s anchor tenant, occupying the entire 3,200 s.f. first floor. Forest Devices, a longtime member of the Avenu community, is the creator of ALPHASTROKE, the first stroke and Large Vessel Occlusion (LVO) detection device that can potentially be used by first responders to triage patients directly to the right hospital. The location of Forest Devices in in Uptown is further recognition of the growing strength of this innovation corridor.

“Ensuring dynamic, innovation-oriented companies like Forest Devices have the ability to grow within the Pittsburgh Innovation District is critical to the success of the city’s innovation economy,” said Sean Luther, Executive Director of the Pittsburgh Innovation District and InnovatePGH. “Avenu’s continued work in Uptown and Oakland provides a strong foundation for Pittsburgh entrepreneurs to thrive and continues to showcase the district’s hospitality to the tech and startup industries and beyond.” 

About Avenu 

Avenu, the product of a 2017 merger of community oriented co-working platforms in Uptown and Oakland, partners with property owners to provide catalytic spaces in the Pittsburgh Innovation District. As an implementing member of the Uptown Task Force, Avenu works to deliver space and programming for entrepreneurs as outlined by the Uptown EcoInnovation District Plan, which reinforces Uptown, with it’s unique adjacency to Oakland, as a hub of innovation and serve as a model for equitable growth, economic opportunity and sustainability

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