Schedule III—Real Estate and Accumulated Depreciation
November 30, 2014
(dollars in thousands)

				Initial Cost				Cost Capitalized Subsequent to Acquisition Improvements		Gross Amount at November 30, 2014
Description	Encumbrances			Land		Bldg. & Improve.		Cost Capitalized Subsequent to Acquisition Improvements		Land		Land Improvements		Bldg. & Bldg. Improvements		Tenant Improvements		Development Costs		Total		Accumulated Depreciation			Date of Construction	Date of Acquisition	Depr. Life
Undeveloped Land	$	—		$	2,636	$	—	$	691	$	2,636	$	691	$	—	$	—	$	—	$	3,327	$	(250	)
New England Tradeport Windsor/E. Granby, CT
Undeveloped portion		—			981		—		3,428		981		—		—		—		3,428		4,409		—
Industrial Buildings		7,691	(c)		8		—		4,342		8		509		3,486		347		—		4,350		(3,137	)	1978		40 yrs.
Industrial Building		—	(a)		4		1,722		891		4		751		1,835		27		—		2,617		(1,708	)	1982	1989	40 yrs.
Industrial Building		—	(a)		13		—		7,242		13		522		5,515		1,186		19		7,255		(1,803	)	2008		40 yrs.
Industrial Building		—			9		—		3,915		9		316		3,449		131		19		3,924		(1,938	)	1998		40 yrs.
Industrial Building		6,533			12		—		8,193		12		345		5,136		2,712		—		8,205		(5,418	)	1999		40 yrs.
Industrial Building		—	(a)		7		—		3,313		7		11		3,051		251		—		3,320		(1,429	)	2001		40 yrs.
Industrial Building		18,189			13		—		5,606		13		22		5,021		563		—		5,619		(2,087	)	2003		40 yrs.
Industrial Building		—	(a)		16		—		7,489		16		1		6,893		595		—		7,505		(2,570	)	2006		40 yrs.
Industrial Building		—	(a)		15		—		9,979		15		28		7,595		—		2,356		9,994		(2,395	)	2005		40 yrs.
Industrial Building		10,888			57		—		15,999		57		1,028		13,874		1,097		—		16,056		(2,771	)	2009		40 yrs.
Industrial Building		—			20		—		8,374		20		563		7,538		273		—		8,394		(1,825	)	2007		40 yrs.
Industrial Building		—			12		—		6,928		12		448		6,263		217		—		6,940		(1,669	)	2007		40 yrs.
Griffin Center Windsor, CT
Undeveloped portion		—			285		—		629		285		—		—		—		629		914		—
Industrial Building		7,750			19		—		8,210		19		145		8,065		—		—		8,229		(2,841	)	2001		40 yrs.
Restaurant Building		—			1		—		2,161		1		261		1,391		509		—		2,162		(1,396	)	1983		40 yrs.
Office Building		—	(b)		17		—		5,865		17		420		4,257		1,188		—		5,882		(2,762	)	2002		40 yrs.
Office Buildings		6,394	(c)		1,193		7,958		3,607		1,193		740		8,281		2,544		—		12,758		(5,038	)	1982/1987	2003	40 yrs.
Griffin Center South Bloomfield, CT
Undeveloped portion		—			42		—		347		42		—		—		—		347		389		—
Office Building		—	(b)		5		—		4,050		5		576		2,887		587		—		4,055		(3,322	)	1977		40 yrs.
Office Building		—	(b)		4		—		2,777		4		269		1,962		546		—		2,781		(1,892	)	1985		40 yrs.
Office Building		—	(b)		2		—		2,083		2		384		1,471		130		98		2,085		(1,394	)	1988		40 yrs.
Office Building		—	(b)		2		—		1,534		2		189		1,345		—		—		1,536		(1,030	)	1989		40 yrs.
Industrial Building		—	(b)		1		—		765		1		86		679		—		—		766		(571	)	1988		40 yrs.
Office Buildings		—	(b)(d)		10		—		4,020		10		268		3,344		408		—		4,030		(2,303	)	1991		40 yrs.
Office Building		—	(b)		9		—		3,812		9		23		3,321		401		67		3,821		(1,585	)	2001		40 yrs.
Bloomfield, CT
Industrial Building		—			1,294		1,264		—		1,294		72		1,126		66		—		2,558		(326	)	1997	2007	40 yrs.
Breinigsville, PA
Industrial Building		3,848			832		4,560		—		832		349		3,990		221		—		5,392		(842	)		2010	40 yrs.
Lehigh Valley Tradeport Lower Nazareth Township, PA
Industrial Building		—			1,351		—		13,447		1,351		1,341		12,013		—		93		14,798		(171	)	2014		40 yrs.
Industrial Building		8,875			721		—		11,176		721		1,359		8,996		821		—		11,897		(932	)	2012		40 yrs.
Hanover Township, PA
Industrial Building under Construction		—			7,641		—		1,301		7,641		—		—		—		1,301		8,942		—
Granby, CT
Nursery Farm		—			417		—		11,052		417		1,565		9,487		—		—		11,469		(10,032	)		1959	20 yrs.
Quincy, FL
Nursery Farm		—			279		—		9,485		279		4,089		5,396		—		—		9,764		(8,221	)		1959	20 yrs.
Simsbury, CT
Other		—			27		—		3,114		27		1,156		—		—		1,958		3,141		(1,104	)

	$	70,168		$	17,955	$	15,504	$	175,825	$	17,955	$	18,527	$	147,667	$	14,820	$	10,315	$	209,284	$	(74,762	)

(a)	Building included in mortgage listed on line above.
(b)	Buildings included as collateral for a $12.5 million revolving line of credit.
(c)	Includes two buildings.
(d)	Includes three buildings.

Schedule III—Real Estate and Accumulated Depreciation (continued)
(dollars in thousands)

Fiscal year ended November 30, 2014

	Cost			Reserve
Balance at beginning of year	$	192,268		$	(61,078	)
Changes during the year:
Additions to real estate assets		16,680			—
Additions to reserve charged to costs and expense		—			(5,747	)
Reclassification to real estate held for sale		(9,236	)		—
Writeoff of fully depreciated assets		(1,913	)		1,913
Reclassification to real estate assets from property and equipment		11,485			(9,850	)

Balance at end of year	$	209,284		$	(74,762	)

Fiscal year ended November 30, 2013

	Cost			Reserve
Balance at beginning of year	$	180,671		$	(56,744	)
Changes during the year:
Additions to real estate assets		13,769			—
Additions to reserve charged to costs and expense		—			(5,545	)
Reclassification to real estate held for sale		(962	)		1
Writeoff of fully depreciated assets		(1,210	)		1,210

Balance at end of year	$	192,268		$	(61,078	)

Fiscal year ended December 1, 2012

	Cost			Reserve
Balance at beginning of year	$	168,160		$	(51,865	)
Changes during the year:
Additions to real estate assets		13,557			—
Additions to reserve charged to costs and expense		—			(5,237	)
Reclassification to real estate held for sale		(693	)		5
Writeoff of fully depreciated assets		(353	)		353

Balance at end of year	$	180,671		$	(56,744	)