XML 39 R10.htm IDEA: XBRL DOCUMENT

NON-CORE PROPERTIES

12 Months Ended

Oct. 31, 2011

(4) NON-CORE PROPERTIES

At October 31, 2011, the non-core properties consist of two industrial properties ("the St. Louis" property and "the Dallas" property) located outside of the Northeast region of the United States. The Board of Directors has authorized management, subject to its approval of any contract for sale, to sell the non-core properties of the Company over a period of several years in furtherance of the Company's objectives to focus on northeast properties.

During the fiscal year ended October 31, 2011, one of the non-core property's buildings in the amount of $933,000 became fully depreciated and the non-core asset's cost was written off with a corresponding reduction to accumulated depreciation.

The components of non-core properties were as follows (in thousands):

	2011			2010
Land	$	450		$	450
Buildings and improvements		145			933
		595			1,383
Accumulated depreciation		(11	)		(932	)
	$	584		$	451

Minimum rental payments on non-cancelable operating leases of the non-core properties totaling $8,718,000 become due as follows: 2012 - $1,597,000; 2013 - $1,597,000; 2014 - $1,597,000; 2015 - $1,792,000; 2016 - $1,831,000 and thereafter - $304,000.