Subsequent Event

6 Months Ended

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.