Intangible Assets

12 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 4 – INTANGIBLE ASSETS

Net intangible assets consist of the estimated value of the leases in-place at acquisition for the following properties and are amortized over the remaining term of the lease:

	September 30, 2016		September 30, 2015
Richfield, OH (Cleveland)	$	11,622	$	51,472
Colorado Springs, CO		-0-		3,729
Griffin, GA (Atlanta)		19,815		84,665
Roanoke, VA (CHEP)		-0-		32,217
Wheeling, IL (Chicago)		-0-		125,060
Orion, MI		19,994		72,976
Topeka, KS		170,700		204,243
Carrollton, TX (Dallas)		15,697		22,260
Ft. Mill, SC (Charlotte, NC)		270,656		358,121
Lebanon, TN (Nashville)		161,385		181,988
Rockford, IL		144,817		164,284
Edinburg, TX		279,120		335,162
Corpus Christi, TX		112,794		135,735
Halfmoon, NY (Albany)		255,620		303,901
Lebanon, OH (Cincinnati)		240,939		334,215
Olive Branch, MS (Memphis, TN)(Anda Distribution)		1,078,458		1,270,266
Livonia, MI (Detroit)		376,306		444,730
Stewartville (Rochester), MN		31,271		35,847
Buckner, KY (Louisville)		373,690		395,565
Edwardsville, KS (Kansas City)(International Paper)		515,819		590,395
Lindale, TX (Tyler)		271,334		306,344
Sauget, IL (St. Louis, MO)		26,773		28,886
Rockford, IL (B/E Aerospace)		84,106		92,053
Kansas City, KS (Bunzl)		25,546		30,658
Monroe, OH (Cincinnati)		428,411		460,362
Cincinnati, OH		46,407		50,000
Pittsburgh, PA		78,615		-0-
Burlington (Seattle/Everett), WA		436,518		-0-
Colorado Springs, CO		339,740		-0-
Total Intangible Assets, net	$	5,816,153	$	6,115,134

Amortization expense related to these intangible assets was $1,076,776, $1,310,904 and $1,305,336 for the years ended September 30, 2016, 2015 and 2014, respectively. The Company estimates that aggregate amortization expense for existing intangible assets will be approximately $960,000, $909,000, $866,000, $730,000 and $718,000 for each of the fiscal years 2017, 2018, 2019, 2020 and 2021, respectively.