Intangible Assets

12 Months Ended

Dec. 01, 2012

Intangible Assets

Intangible Assets

8. Intangible Assets

        Griffin's intangible assets relate to the fiscal 2010 acquisition of an industrial building, the fiscal 2007 acquisition of a warehouse building and the fiscal 2003 acquisition of a controlling interest in a joint venture that owned two multi-story office buildings. The intangible assets consist of: (i) the value of in-place leases; and (ii) the value of the associated relationships with tenants.

        Intangible assets are included in other assets on Griffin's consolidated balance sheets and are as follows:

	December 1, 2012			December 3, 2011
Intangible assets	$	1,757		$	1,831
Accumulated amortization		(902	)		(776	)
Intangible assets, net	$	855		$	1,055

        Amortization expense of intangible assets is as follows:

	For the Fiscal Years Ended,
	December 1, 2012		December 3, 2011		November 27, 2010
Amortization expense	$	200	$	178	$	185

        Estimated amortization expense of intangible assets over each of the next five fiscal years is:

2013	$	172
2014		172
2015		172
2016		77
2017		44