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Subsequent Event | 6 Months Ended
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Jul. 04, 2015
Subsequent Event |
Subsequent Event | 15. Subsequent Event On July 15, 2015, CRA entered into a new lease with 1411 IC-SIC Property LLC, as landlord, for 25,261 square feet of office space located on the 35th floor of 1411 Broadway, New York, New York. The lease's base term will expire 10 years from the date that CRA begins paying fixed rent under the lease and, subject to certain conditions, will be extendible by CRA for one five-year period. The annual fixed rent for this office space (which does not include customary operating costs and expenses) will be approximately $153,671 per month, or $1,844,053 per annum, for the first five years of the lease's base term and will increase to a rate of approximately $166,301 per month, or $1,955,619 per annum, during the remainder of the lease's base term. The lease gives us a right of first refusal to rent certain additional office space in the office building if it becomes available. The performance of our obligations under the lease is secured by a letter of credit in the amount of $922,027. We took possession of the leased property on August 1, 2015.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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