Schedule III-Real Estate and Accumulated Depreciation

12 Months Ended

Nov. 30, 2020

Schedule III-Real Estate and Accumulated Depreciation

Schedule III-Real Estate and Accumulated Depreciation

Schedule III – Real Estate and Accumulated Depreciation

November 30, 2020

(dollars in thousands)

								Cost Capitalized		Gross Amount
				Initial Cost				Subsequent		at November 30, 2020
						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/Logistics Properties
Industrial/Logistics Building - Bloomfield	$	-	(b)	$	1	$	-	$	877	$	1	$	92	$	785	$	-	$	-	$	-	$	878	$	(670)	1988		40	yrs.
Industrial/Logistics Building - Bloomfield		-	(b)		251		1,198		1,599		251		327		1,752		718		-		-		3,048		(1,028)	1997	2007	40	yrs.
Industrial/Logistics Building - East Granby		12,730			4		1,722		922		4		774		1,843		27		-		-		2,648		(2,043)	1982	1989	40	yrs.
Industrial/Logistics Building - East Granby		-	(a)		4		-		2,161		4		225		1,654		282		-		-		2,165		(1,597)	1978		40	yrs.
Industrial/Logistics Building - East Granby		-	(a)		4		-		3,257		4		353		2,356		548		-		-		3,261		(2,507)	1980		40	yrs.
Industrial/Logistics Building - Windsor		-	(a)		259		-		5,933		259		1,389		3,866		678		-		-		6,192		(2,818)	1998		40	yrs.
Industrial/Logistics Building - Windsor		-	(a)		13		-		7,539		13		533		5,642		1,364		-		-		7,552		(3,249)	2008		40	yrs.
Industrial/Logistics Building - Windsor		3,681			12		-		9,821		12		368		5,867		3,586		-		-		9,833		(6,582)	1999		40	yrs.
Industrial/Logistics Building - Windsor		-	(a)		7		-		3,425		7		27		3,212		186		-		-		3,432		(1,887)	2001		40	yrs.
Industrial/Logistics Building - Windsor		16,274			13		-		6,408		13		69		5,404		935		-		-		6,421		(3,125)	2003		40	yrs.
Industrial/Logistics Building - Windsor		-	(a)		16		-		7,840		16		95		7,036		709		-		-		7,856		(3,895)	2006		40	yrs.
Industrial/Logistics Building - Windsor		-	(a)		15		-		17,260		15		167		13,920		3,173		-		-		17,275		(7,209)	2005		40	yrs.
Industrial/Logistics Building - Windsor		9,772			57		-		16,071		57		1,042		13,932		1,097		-		-		16,128		(5,613)	2009		40	yrs.
Industrial/Logistics Building - Windsor		17,639			20		-		10,274		20		804		8,187		1,283		-		-		10,294		(3,879)	2007		40	yrs.
Industrial/Logistics Building - Windsor		-	(a)		12		-		6,976		12		471		6,288		217		-		-		6,988		(2,911)	2007		40	yrs.
Industrial/Logistics Building - Windsor		-	(a)		16		-		10,017		16		2,364		6,917		736		-		-		10,033		(1,354)	2017		40	yrs.
Industrial/Logistics Building - Windsor		13,715			26		-		15,547		26		3,357		11,078		1,112		-		-		15,573		(1,335)	2018		40	yrs.
Industrial/Logistics Building - Windsor		5,254			19		-		8,236		19		171		8,065		-		-		-		8,255		(4,115)	2001		40	yrs.
PA Industrial/Logistics Properties
Industrial/Logistics Building - Breinigsville		14,714			832		4,599		-		832		349		4,029		221		-		-		5,431		(1,866)	2006	2010	40	yrs.
Industrial/Logistics Building - Allentown		-	(a)		2,344		-		9,768		2,344		2,996		5,914		858		-		-		12,112		(720)	2018		40	yrs.
Industrial/Logistics Building - Lower Nazareth Township		18,503			1,351		-		15,505		1,351		1,381		12,874		1,250		-		-		16,856		(4,099)	2014		40	yrs.
Industrial/Logistics Building - Lower Nazareth Township		-	(a)		721		-		11,303		721		1,394		9,064		845		-		-		12,024		(3,625)	2012		40	yrs.
Industrial/Logistics Building - Hanover Township		23,973			3,620		-		17,055		3,620		4,602		10,353		2,100		-		-		20,675		(3,221)	2016		40	yrs.
Industrial/Logistics Building - Hanover Township		-	(a)		4,022		-		16,309		4,022		4,013		11,076		1,214		6		-		20,331		(3,947)	2015		40	yrs.
NC Industrial/Logistics Property
Industrial/Logistics Building - Concord		11,439			1,600		15,189		325		1,600		1,598		13,042		874		-		-		17,114		(2,217)	2015	2017	40	yrs.
Industrial/Logistics Building - Concord		-			1,412		-		10,202		1,412		2,675		6,439		1,088		-		-		11,614		(498)	2019		40	yrs.
Industrial/Logistics Building - Concord		-			1,304		-		7,922		1,304		2,461		5,461		-		-		-		9,226		(312)	2019		40	yrs.
FL Industrial/Logistics Property
Industrial/Logistics Building - Orlando		6,364			1,150		8,204		-		1,150		833		6,517		854		-		-		9,354		(425)	1973	2019	40	yrs.
Industrial/Logistics Building - Orlando		5,057			1,555		6,386		-		1,555		390		5,268		728		-		-		7,941		(237)	1985	2019	40	yrs.
Industrial/Logistics Building - Orlando		-			1,407		4,277		830		1,407		522		3,755		-		830		-		6,514		(118)	1997	2019	40	yrs.

								Cost Capitalized		Gross Amount
				Initial Cost				Subsequent		at November 30, 2020
						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
Office/Flex Properties
Office/Flex Building - Bloomfield		-	(b)		5		-		4,554		5		723		3,081		750		-		-		4,559			(3,873)	1977		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		2		-		2,340		2		384		1,731		225		-		-		2,342			(1,851)	1988		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		2		-		3,212		2		214		2,301		697		-		-		3,214			(1,606)	1989		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		3		-		2,005		3		146		1,457		402		-		-		2,008			(1,330)	1990		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		3		-		1,831		3		87		1,529		215		-		-		1,834			(1,214)	1991		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		3		-		877		3		90		672		115		-		-		880			(702)	1991		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		9		-		4,569		9		33		3,690		846		-		-		4,578			(2,471)	2001		40	yrs.
Office/Flex Building - Windsor		-	(b)		17		-		6,124		17		434		4,543		1,147		-		-		6,141			(3,827)	2002		40	yrs.
Office/Flex Building - Windsor		4,070			445		3,954		2,078		445		338		4,076		1,618		-		-		6,477			(3,792)	1982	2003	40	yrs.
Office/Flex Building - Windsor		-	(a)		417		4,004		1,578		417		348		3,856		1,378		-		-		5,999			(3,273)	1987	2003	40	yrs.
Restaurant Building - Windsor		-			1		-		2,189		1		266		1,414		509		-		-		2,190			(1,870)	1983		40	yrs.
Other
Nursery Farm - Granby, CT		-			376		-		10,988		376		1,565		9,423		-		-		-		11,364			(10,768)		1959	20	yrs.
Nursery Farm - Quincy, FL		-			279		-		8,697		279		4,089		4,608		-		-		-		8,976			(8,448)		1959	20	yrs.
Undeveloped land - New England Tradeport		-			712		-		2,224		712		90		-		-		-		2,134		2,936			(73)
Undeveloped land - Griffin Center/Griffin Center South		-			435		-		1,572		435		451		-		-		-		1,121		2,007			(447)
Undeveloped land - Phoenix Crossing		-			48		-		1,409		48		-		-		-		-		1,409		1,457			-
Undeveloped land - Other		-			373		-		1,075		373		633		-		-		-		442		1,448			(629)
Undeveloped land - Mecklenburg, NC		-			5,714		-		1,487		5,714		-		-		-		1,487		-		7,201			-
Undeveloped land - Lehigh County, PA		-			2,226		-		1,290		2,226		-		-		-		1,290		-		3,516			-
	$	163,185		$	33,137	$	49,533	$	283,481	$	33,137	$	45,733	$	243,977	$	34,585	$	3,613	$	5,106	$	366,151	(c)	$	(123,276)

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

(b) Buildings included as collateral for a $19,500 revolving line of credit.

(c) As of November 30, 2020, the aggregate cost for Federal income tax purposes is $344,610.

	Cost		Reserve
Balance at beginning of year	$	343,649	$	(105,035)
Changes during the year:
Additions to real estate assets		23,535		—
Additions to reserve charged to costs and expense		—		(11,889)
Reclassification from real estate held for sale, net		1,891		(7,191)
Impairment loss		(2,671)		586
Writeoff of fully depreciated assets		(253)		253
Balance at end of year	$	366,151	$	(123,276)

Fiscal year ended November 30, 2019

	Cost		Reserve
Balance at beginning of year	$	318,625	$	(105,004)
Changes during the year:
Additions to real estate assets		39,735		—
Additions to reserve charged to costs and expense		—		(10,416)
Reclassification to real estate held for sale		(11,307)		10,081
Impairment loss		(3,100)		—
Writeoff of fully depreciated assets		(304)		304
Balance at end of year	$	343,649	$	(105,035)

Fiscal year ended November 30, 2018

	Cost		Reserve
Balance at beginning of year	$	291,852	$	(95,112)
Changes during the year:
Additions to real estate assets		27,559		—
Additions to reserve charged to costs and expense		—		(9,853)
Reclassification to real estate held for sale		(500)		(325)
Writeoff of fully depreciated assets		(286)		286
Balance at end of year	$	318,625	$	(105,004)