Real Estate Assets (Tables)

12 Months Ended

Nov. 30, 2017

Schedule of real estate assets, excluding those held for sale


	Estimated
	Useful Lives	Nov. 30, 2017		Nov. 30, 2016
Land		$	20,403	$	17,895
Land improvements	10 to 30 years		30,833		27,592
Buildings and improvements	10 to 40 years		187,116		164,353
Tenant improvements	Shorter of useful life or terms of related lease		27,924		21,925
Machinery and equipment	3 to 20 years		10,958		11,022
Construction in progress			486		1,659
Development costs			14,132		14,615
			291,852		259,061
Accumulated depreciation			(95,112)		(86,801)
		$	196,740	$	172,260

Schedule of total depreciation expense and capitalized interest related to real estate assets


	For the Fiscal Years Ended
	Nov. 30, 2017		Nov. 30, 2016		Nov. 30, 2015
Depreciation expense	$	8,831	$	7,768	$	6,539

Capitalized interest	$	103	$	274	$	777

Schedule of pro forma results


	For the Fiscal Year Ended November 30, 2017
	As reported			Adjustments (a)	Pro forma
Rental revenue	$	29,939	$	370	$	30,309
Revenue from property sales		13,945		—		13,945
Total revenue		43,884		370		44,254

Operating expenses of rental properties		8,866		39		8,905
Depreciation and amortization expense		10,064		470		10,534
Costs related to property sales		3,780		—		3,780
General and administrative expenses		8,552		—		8,552
Total expenses		31,262		509		31,771

Operating income		12,622		(139)		12,483

Interest expense		(5,690)		—		(5,690)
Other non-operating income		368		—		368
Income before income tax (provision) benefit		7,300		(139)		7,161
Income tax (provision) benefit		(2,673)		51		(2,622)
Net income	$	4,627	$	(88)	$	4,539

Earnings per share:
Basic	$	0.92			$	0.91
Diluted	$	0.92			$	0.90

(a)

Adjustments do not reflect revenue from leasing, subsequent to the date of acquisition, the approximately 73,000 square feet that was vacant at the time 215 International was acquired and interest expense from financing of 215 International subsequent to the date of the acquisition (see Note 5).

Schedule of revenue and pretax gain


	For the Fiscal Years Ended
	Nov. 30, 2017		Nov. 30, 2016		Nov. 30, 2015		Nov. 30, 2014		Nov. 30, 2013		Total
Revenue	$	104	$	608	$	2,483	$	3,105	$	2,668	$	8,968

Pretax gain	$	66	$	380	$	1,880	$	2,358	$	1,990	$	6,674

Schedule of real estate held for sale


	Nov. 30, 2017		Nov. 30, 2016
Land	$	504	$	264
Land improvements		354		—
Development costs		1,074		2,728
	$	1,932	$	2,992