Schedule III-Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 03, 2011

Schedule III-Real Estate and Accumulated Depreciation

Schedule III-Real Estate and Accumulated Depreciation

Schedule III—Real Estate and Accumulated Depreciation
December 3, 2011
(dollars in thousands)

				Initial Cost				Cost Capitalized Subsequent to Acquisition Improvements		Gross Amount at December 3, 2011
Description	Encumbrances			Land		Bldg. & Improve.				Land		Land Improvements		Bldg. & Bldg. Improvements		Tenant Improvements		Development Cost		Total		Accumulated Depreciation			Date of Construction		Date of Acquisition		Depr. Life
Undeveloped Land	$	—		$	4,826	$	—	$	2,128	$	4,826	$	638	$	—	$	—	$	1,490	$	6,954	$	(145	)
New England Tradeport
Windsor/E. Granby, CT
Undeveloped portion		—			1,068		—		3,139		1,068		53		—		—		3,086		4,207		—
Industrial Buildings		8,176			8		—		4,417		8		487		3,673		257		—		4,425		(3,034	)		1978				40 yrs.
Industrial Building		—	(a)		4		1,722		891		4		751		1,835		27		—		2,617		(1,538	)		1982		1989		40 yrs.
Industrial Building		—	(a)		13		—		7,241		13		522		5,515		1,186		18		7,254		(937	)		2008				40 yrs.
Industrial Building		—			9		—		3,896		9		316		3,449		131		—		3,905		(1,605	)		1998				40 yrs.
Industrial Building		6,673			12		—		8,167		12		342		5,113		2,712		—		8,179		(4,416	)		1999				40 yrs.
Industrial Building			(a)		7		—		3,313		7		11		3,027		251		24		3,320		(1,144	)		2001				40 yrs.
Industrial Building		19,368			13		—		5,500		13		22		4,962		516		—		5,513		(1,637	)		2003				40 yrs.
Industrial Building		—	(a)		16		—		7,411		16		1		6,877		533		—		7,427		(1,806	)		2006				40 yrs.
Industrial Building		—	(a)		15		—		9,137		15		25		7,595		1,517		—		9,152		(3,045	)		2005				40 yrs.
Industrial Building		11,609			57		—		15,931		57		1,028		13,806		1,097		—		15,988		(1,211	)		2009				40 yrs.
Industrial Building		—			20		—		8,339		20		563		7,503		273		—		8,359		(1,051	)		2007				40 yrs.
Industrial Building		—			12		—		6,635		12		437		5,990		208		—		6,647		(1,059	)		2007				40 yrs.
Griffin Center
Windsor, CT
Undeveloped portion		—			403		—		889		403		—		—		—		889		1,292		—
Flex Building		4,232			19		—		8,177		19		120		8,057		—		—		8,196		(2,212	)		2001				40 yrs.
Restaurant Building		—			1		—		2,161		1		261		1,391		509		—		2,162		(1,096	)		1983				40 yrs.
Office Building		—	(b)		17		—		5,828		17		420		4,257		1,151		—		5,845		(2,037	)		2002				40 yrs.
Office Buildings		6,926			1,193		7,958		1,820		1,193		722		7,638		1,360		58		10,971		(3,474	)		1982/1987		2003		40 yrs.
Griffin Center South
Bloomfield, CT
Undeveloped portion		—			42		—		342		42		—		—		—		342		384		—
Office Building		—	(b)		5		—		3,925		5		576		2,789		560		—		3,930		(2,966	)		1977				40 yrs.
Office Building		—	(b)		4		—		2,772		4		263		1,963		546		—		2,776		(1,543	)		1985				40 yrs.
Office Building		—	(b)		2		—		1,862		2		376		1,404		82		—		1,864		(1,139	)		1988				40 yrs.
Office Building		—	(b)		2		—		1,645		2		189		1,330		126		—		1,647		(1,044	)		1989				40 yrs.
Industrial Building		—	(b)		1		—		765		1		86		679		—		—		766		(507	)		1988				40 yrs.
Office Buildings		—	(b)		10		—		3,847		10		152		3,321		374		—		3,857		(1,842	)		1991				40 yrs.
Office Building		—	(b)		9		—		3,757		9		8		3,321		401		27		3,766		(1,060	)		2001				40 yrs.
Bloomfield, CT
Industrial Building		—			1,294		1,264		—		1,294		72		1,126		66		—		2,558		(188	)		1997		2007		40 yrs.
Breinigsville, PA
Industrial Building		4,151			832		4,560		—		832		349		3,990		221		—		5,392		(328	)				2010		40 yrs.
Quincy, FL
Nursery Farm		—			279		—		10,598		279		4,089		6,509		—		—		10,877		(8,716	)				1959		20 yrs.
Residential Development
Simsbury, CT		—			201		—		5,332		201		—		—		—		5,332		5,533		—
Other		—			41		—		2,356		41		1,158		—		—		1,198		2,397		(1,085	)
Subtotal	$	61,135		$	10,435	$	15,504	$	142,221	$	10,435	$	14,037	$	117,120	$	14,104	$	12,464	$	168,160	$	(51,865	)

(a)

Building included in mortgage listed on line above.

(b)

Buildings included as collateral for a $12.5 million revolving line of credit.

Schedule III—Real Estate and Accumulated Depreciation (Continued)
(dollars in thousands)

Fiscal year ended December 3, 2011

	Cost			Reserve
Balance at beginning of year	$	178,995		$	(48,165	)
Changes during the year:
Additions to real estate assets		3,186			—
Additions to reserve charged to costs and expense		—			(5,632	)
Reclassification to real estate held for sale		(14,015	)		1,932
Cost of sales		(6	)		—
Balance at end of year	$	168,160		$	(51,865	)

Fiscal year ended November 27, 2010

	Cost			Reserve
Balance at beginning of year	$	171,456		$	(43,145	)
Changes during the year:
Additions to real estate assets		9,755			—
Additions to reserve charged to costs and expense		—			(5,791	)
Reclassification to real estate held for sale		(1,208	)		—
Writeoff of fully depreciated assets		(240	)		240
Cost of sales		(768	)		531
Balance at end of year	$	178,995		$	(48,165	)

Fiscal year ended November 28, 2009

	Cost			Reserve
Balance at beginning of year	$	144,404		$	(30,456	)
Changes during the year:
Additions to real estate assets		16,500			—
Reclassification from property and equipment		11,120			(8,233	)
Additions to reserve charged to costs and expense		—			(5,024	)
Writeoff of fully depreciated assets		(568	)		568
Balance at end of year	$	171,456		$	(43,145	)

Note: At the end of fiscal 2010 and fiscal 2009, real estate assets were disaggregated for footnote disclosure purposes between assets held for lease and assets held for sale of $122,924 and $9,114, respectively, as of November 27, 2010 and $119,266 and $9,045, respectively, as of November 28, 2009. Assets reflected as held for sale at the end of fiscal 2010 and fiscal 2009 included assets held for sale and assets held for development with the ultimate expectation that they would be sold. In fiscal 2011, assets considered as held for development that were previously presented within the held for sale caption are now presented within the broader category of Real Estate Assets and, accordingly, Real Estate Held for Sale consists only of assets held for sale as described under Real Estate Assets in Note 1, Summary of Significant Accounting Policies, to the Consolidated Financial Statements. As of December 3, 2011, prior year amounts in the above table have been reclassified to conform to the current presentation.