Schedule III-Real Estate and Accumulated Depreciation

12 Months Ended

Nov. 30, 2017

Schedule III-Real Estate and Accumulated Depreciation

Schedule III-Real Estate and Accumulated Depreciation

Schedule III – Real Estate and Accumulated Depreciation

November 30, 2017

(dollars in thousands)

								Cost
								Capitalized		Gross Amount
				Initial Cost				Subsequent		at November 30, 2017
						Bldg. &		to Acquisition				Land		Bldg. & Bldg.		Tenant		Construction		Development					Accumulated		Date of	Date of	Depr.
Description	Encumbrances			Land		Improve.		Improvements		Land		Improvements		Improvements		Improvements		in Progress		Costs		Total			Depreciation		Construction	Acquisition	Life
CT Industrial/Warehouse Properties
Industrial/Warehouse Building - Bloomfield	$	-	(b)	$	1	$	-	$	782	$	1	$	92	$	690	$	-	$	-	$	-	$	783		$	(618)	1988		40	yrs.
Industrial/Warehouse Building - Bloomfield		-			251		1,198		1,580		251		321		1,740		717		-		-		3,029			(546)	1997	2007	40	yrs.
Industrial/Warehouse Building - East Granby		13,844			4		1,722		922		4		774		1,843		27		-		-		2,648			(1,881)	1982	1989	40	yrs.
Industrial/Warehouse Building - East Granby		-	(a)		4		-		1,943		4		212		1,578		153		-		-		1,947			(1,425)	1978		40	yrs.
Industrial/Warehouse Building - East Granby		-	(a)		4		-		3,162		4		310		2,317		535		-		-		3,166			(2,131)	1980		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		259		-		4,434		259		356		3,650		394		34		-		4,693			(2,371)	1998		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		13		-		7,494		13		525		5,605		1,364		-		-		7,507			(2,541)	2008		40	yrs.
Industrial/Warehouse Building - Windsor		4,622			12		-		8,220		12		363		5,145		2,712		-		-		8,232			(6,022)	1999		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		7		-		3,381		7		20		3,175		186		-		-		3,388			(1,497)	2001		40	yrs.
Industrial/Warehouse Building - Windsor		17,308			13		-		5,650		13		35		5,044		571		-		-		5,663			(2,586)	2003		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		16		-		7,605		16		80		6,903		622		-		-		7,621			(3,236)	2006		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		15		-		17,203		15		154		13,876		3,173		-		-		17,218			(4,604)	2005		40	yrs.
Industrial/Warehouse Building - Windsor		10,523			57		-		16,014		57		1,031		13,886		1,097		-		-		16,071			(4,304)	2009		40	yrs.
Industrial/Warehouse Building - Windsor		11,826			20		-		10,026		20		578		8,165		1,283		-		-		10,046			(2,682)	2007		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		12		-		6,962		12		448		6,297		217		-		-		6,974			(2,344)	2007		40	yrs.
Industrial/Warehouse Building - Windsor		-			16		-		9,149		16		2,249		6,249		651		-		-		9,165			(41)	2017		40	yrs.
Industrial/Warehouse Building - Windsor		6,597			19		-		8,229		19		164		8,065		-		-		-		8,248			(3,478)	2001		40	yrs.
PA Industrial/Warehouse Properties
Industrial/Warehouse Building - Breinigsville		3,478			832		4,599		-		832		349		4,029		221		-		-		5,431			(1,356)		2010	40	yrs.
Industrial/Warehouse Building - Lower Nazareth Township		20,221			1,351		-		15,490		1,351		1,366		12,874		1,250		-		-		16,841			(2,078)	2014		40	yrs.
Industrial/Warehouse Building - Lower Nazareth Township		-	(a)		721		-		11,148		721		1,359		8,968		821		-		-		11,869			(2,447)	2012		40	yrs.
Industrial/Warehouse Building - Hanover Township		26,076			4,022		-		16,279		4,022		3,989		11,076		1,214		-		-		20,301			(1,669)	2015		40	yrs.
Industrial/Warehouse Building - Hanover Township		-	(a)		3,620		-		15,542		3,620		4,468		9,134		1,940		-		-		19,162			(873)	2016		40	yrs.
NC Industrial/Warehouse Property
Industrial/Warehouse Building - Concord		12,115			1,600		15,189		180		1,600		1,573		12,910		846		40		-		16,969			(313)		2017	40	yrs.
Office/Flex Properties
Office/Flex Building - Bloomfield		-	(b)		5		-		4,307		5		594		2,961		752		-		-		4,312			(3,681)	1977		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		4		-		2,777		4		269		1,962		546		-		-		2,781			(2,321)	1985		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		2		-		2,332		2		384		1,723		225		-		-		2,334			(1,599)	1988		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		2		-		3,126		2		195		2,248		683		-		-		3,128			(1,128)	1989		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		3		-		1,743		3		140		1,354		249		-		-		1,746			(1,094)	1990		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		3		-		1,540		3		62		1,347		131		-		-		1,543			(1,047)	1991		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		3		-		847		3		65		667		115		-		-		850			(611)	1991		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		9		-		4,564		9		28		3,690		846		-		-		4,573			(1,822)	2001		40	yrs.
Office/Flex Building - Windsor		-	(b)		17		-		6,052		17		434		4,470		1,148		-		-		6,069			(3,134)	2002		40	yrs.
Office/Flex Building - Windsor		4,367			616		3,954		2,762		616		375		4,841		1,500		-		-		7,332			(3,057)	1982	2003	40	yrs.
Office/Flex Building - Windsor		-	(a)		577		4,004		1,758		577		381		4,147		1,226		8		-		6,339			(3,299)	1987	2003	40	yrs.
Restaurant Building - Windsor		-			1		-		2,196		1		266		1,414		509		7		-		2,197			(1,697)	1983		40	yrs.
Other
Nursery Farm - Granby, CT		-			405		-		10,988		405		1,565		9,423		-		-		-		11,393			(10,475)		1959	20	yrs.
Nursery Farm - Quincy, FL		-			279		-		8,697		279		4,089		4,608		-		-		-		8,976			(7,971)		1959	20	yrs.
Undeveloped land - New England Tradeport		-			738		-		2,977		738		90		-		-		84		2,803		3,715			(62)
Undeveloped land - Griffin Center/Griffin Center South		-			435		-		1,572		435		451		-		-		-		1,121		2,007			(442)
Undeveloped land - Phoenix Crossing		-			60		-		1,464		60		-		-		-		-		1,464		1,524			-
Undeveloped land - Lehigh Valley, PA		-			2,344		-		313		2,344		-		-		-		313		-		2,657			-
Undeveloped land - Other		-			1,830		-		1,036		1,830		629		-		-		-		407		2,866			(629)
Residential Development - Simsbury, CT		-			201		-		8,337		201		-		-		-		-		8,337		8,538			-
	$	130,977		$	20,403	$	30,666	$	240,783	$	20,403	$	30,833	$	198,074	$	27,924	$	486	$	14,132	$	291,852	(c)	$	(95,112)

(a) Building included in mortgage listed on line above.

(b) Buildings included as collateral for a $15,000 revolving line of credit.

(c) As of November 30, 2017, the aggregate cost for Federal income tax purposes is $269,318.

Schedule III – Real Estate and Accumulated Depreciation (Continued)

(dollars in thousands)

Fiscal year ended November 30, 2017

	Cost		Reserve
Balance at beginning of year	$	259,061	$	(86,801)
Changes during the year:
Additions to real estate assets		35,036		—
Additions to reserve charged to costs and expense		—		(8,831)
Reclassification to real estate held for sale		(2,047)		322
Writeoff of fully depreciated assets		(198)		198
Balance at end of year	$	291,852	$	(95,112)

Fiscal year ended November 30, 2016

	Cost		Reserve
Balance at beginning of year	$	247,239	$	(80,784)
Changes during the year:
Additions to real estate assets		15,702		—
Additions to reserve charged to costs and expense		—		(7,768)
Reclassification to real estate held for sale		(2,129)		—
Writeoff of fully depreciated assets		(1,751)		1,751
Balance at end of year	$	259,061	$	(86,801)

Fiscal year ended November 30, 2015

	Cost		Reserve
Balance at beginning of year	$	209,284	$	(74,762)
Changes during the year:
Additions to real estate assets		30,556		—
Additions to reserve charged to costs and expense		—		(6,539)
Reclassification to real estate held for sale		7,916		—
Writeoff of fully depreciated assets		(517)		517
Balance at end of year	$	247,239	$	(80,784)