Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Aclaris Therapeutics, Inc. entered into Office Lease with CBCC – Lee Road Acquisitions, LLC valued at Base rent initial $30,114.58 per month after abatement, term from November 1, 2023 to March 31, 2029 (effective 2023-05-26).
- Action
- entry
- Agreement
- lease
- Counterparty
- CBCC – Lee Road Acquisitions, LLC
- Value
- Base rent initial $30,114.58 per month after abatement, term from November 1, 2023 to March 31, 2029
- Effective
- 2023-05-26
Exact text from the filing
On May 26, 2023, Aclaris Therapeutics, Inc. (the “ Company ”) entered into an Office Lease (the “ Lease ”) with CBCC – Lee Road Acquisitions, LLC, a Delaware limited liability company (the “ Landlord ”), under which the Company will lease 11,564 square feet of space for its corporate headquarters to be located at 701 Lee Road, Wayne, Pennsylvania 19087. The term of the Lease is anticipated to commence on November 1, 2023 and expire on March 31, 2029. Under the Lease, base rent for the first four months of the term shall be abated, after which the Company will pay an initial base rent of $30,114.58 per month for the following eight months. Beginning on the 13th month of the Lease, the monthly base rent will increase annually as specified in the Lease. In addition, the Company will pay its pro rata share of the annual operating expenses and taxes associated with the premises, calculated as set forth in the Lease. The Company has the option to extend the initial term for an additional fi
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