CONTINGENCIES AND COMMITMENTS

9 Months Ended

Jun. 30, 2011

Commitments and Contingencies Disclosure [Abstract]

CONTINGENCIES AND COMMITMENTS

NOTE 11 – CONTINGENCIES AND COMMITMENTS

From time to time, the Company can be subject to claims and litigation in the ordinary course of business. Management does not believe that any such claim or litigation will have a material adverse effect on the consolidated balance sheet or results of operations.

The Company is currently under contract to purchase five industrial buildings totaling approximately 751,000 square feet for approximately $50,900,000.  The Company expects to close three of these acquisitions for a total purchase price of $32,600,000 in the fourth quarter of fiscal 2011 and the two remaining acquisitions for a total purchase price of $18,300,000 in the third quarter of fiscal 2012. The Company has made deposits of $1,062,300 on these acquisitions as of June 30, 2011 which are included in other assets as of June 30, 2011.