Commitments and Contingencies	9 Months Ended
Aug. 31, 2018
Commitments and Contingencies
Commitments and Contingencies	8. Commitments and Contingencies As of August 31, 2018, Griffin had committed purchase obligations of approximately $1,977, principally related to the completion of construction of 220 Tradeport Drive and 6975 Ambassador Drive, an approximately 134,000 square foot industrial/warehouse building in the Lehigh Valley of Pennsylvania, as well as improvements at other Griffin properties. On June 26, 2018, Griffin entered into an agreement for the purchase of approximately 36 acres of undeveloped land in Mecklenburg County, North Carolina (the “Mecklenburg Land”) for approximately $4,700 in cash. If the transaction closes, Griffin plans to construct an industrial/warehouse development on the Mecklenburg Land, which is in the greater Charlotte area. Closing on the purchase of the Mecklenburg Land is subject to several conditions, including rezoning the Mecklenburg Land for industrial/warehouse development and obtaining all governmental approvals for Griffin’s development plans. The amount of industrial/warehouse space to be developed on the Mecklenburg Land will be based upon findings during the rezoning and approvals process. Satisfaction of the conditions required before closing is expected to be an extended process, with a closing on the purchase of the Mecklenburg Land not anticipated to take place until fiscal 2019. There is no guarantee that this transaction will be completed under its current terms, or at all. On January 11, 2018, Griffin entered into an agreement to purchase an approximately 14 acre parcel of undeveloped land in the Lehigh Valley of Pennsylvania (the “Lehigh Valley Land”). Subsequently, the agreement was amended to reduce the purchase price from $3,600 in cash to $3,100 in cash and extend the due diligence period. If the transaction closes, Griffin plans to construct an approximately 156,000 square foot industrial/warehouse building on the Lehigh Valley Land. The closing of this purchase, anticipated to take place in fiscal 2019, is subject to several conditions, including obtaining all governmental approvals for Griffin’s development plans for the Lehigh Valley Land. There is no guarantee that this transaction will be completed under its current terms, or at all. On January 25, 2016, Griffin entered into an Option Purchase Agreement (the “Simsbury Option Agreement”) whereby Griffin granted the buyer an exclusive option to purchase approximately 280 acres of undeveloped land in Simsbury, Connecticut for approximately $7,700. Through August 31, 2018, the buyer has paid $260 of option fees to extend its option period through January 2019. In the 2018 nine month period, the buyer received approval from Connecticut’s regulatory authority for the buyer’s planned use of the land, which is to generate solar electricity. Subsequent to the approval of the land use being granted, two appeals of the Connecticut regulatory authority’s approval were filed and the Attorney General of Massachusetts, the state where substantially all of the electricity generated will be used, contested the purchase agreements for the electricity to be generated from the land subject to purchase. Settlement terms for one of the two appeals challenging the Connecticut regulatory authority’s land use approval have been agreed to between the party initiating the appeal and the prospective buyer, while negotiations on the other appeal are ongoing. Also, the challenge to the purchase agreements by the Attorney General of Massachusetts has been dismissed. A closing on the land sale contemplated by the Simsbury Option Agreement is subject to several significant contingencies, including the satisfactory outcome of the remaining appeal of the Connecticut regulatory authority’s approval. There is no guarantee that the sale of land as contemplated under the Simsbury Option Agreement will be completed under its current terms, or at all. From time to time, Griffin is involved, as a defendant, in various litigation matters arising in the ordinary course of business. In the opinion of management, based on the advice of legal counsel, the ultimate liability, if any, with respect to these matters is not expected to be material, individually or in the aggregate, to Griffin's consolidated financial position, results of operations or cash flows.

8. Commitments and Contingencies

As of August 31, 2018, Griffin had committed purchase obligations of approximately $1,977, principally related to the completion of construction of 220 Tradeport Drive and 6975 Ambassador Drive, an approximately 134,000 square foot industrial/warehouse building in the Lehigh Valley of Pennsylvania, as well as improvements at other Griffin properties.

On June 26, 2018, Griffin entered into an agreement for the purchase of approximately 36 acres of undeveloped land in Mecklenburg County, North Carolina (the “Mecklenburg Land”) for approximately $4,700 in cash. If the transaction closes, Griffin plans to construct an industrial/warehouse development on the Mecklenburg Land, which is in the greater Charlotte area. Closing on the purchase of the Mecklenburg Land is subject to several conditions, including rezoning the Mecklenburg Land for industrial/warehouse development and obtaining all governmental approvals for Griffin’s development plans. The amount of industrial/warehouse space to be developed on the Mecklenburg Land will be based upon findings during the rezoning and approvals process. Satisfaction of the conditions required before closing is expected to be an extended process, with a closing on the purchase of the Mecklenburg Land not anticipated to take place until fiscal 2019. There is no guarantee that this transaction will be completed under its current terms, or at all.

On January 11, 2018, Griffin entered into an agreement to purchase an approximately 14 acre parcel of undeveloped land in the Lehigh Valley of Pennsylvania (the “Lehigh Valley Land”). Subsequently, the agreement was amended to reduce the purchase price from $3,600 in cash to $3,100 in cash and extend the due diligence period. If the transaction closes, Griffin plans to construct an approximately 156,000 square foot industrial/warehouse building on the Lehigh Valley Land. The closing of this purchase, anticipated to take place in fiscal 2019, is subject to several conditions, including obtaining all governmental approvals for Griffin’s development plans for the Lehigh Valley Land. There is no guarantee that this transaction will be completed under its current terms, or at all.

On January 25, 2016, Griffin entered into an Option Purchase Agreement (the “Simsbury Option Agreement”) whereby Griffin granted the buyer an exclusive option to purchase approximately 280 acres of undeveloped land in Simsbury, Connecticut for approximately $7,700. Through August 31, 2018, the buyer has paid $260 of option fees to extend its option period through January 2019. In the 2018 nine month period, the buyer received approval from Connecticut’s regulatory authority for the buyer’s planned use of the land, which is to generate solar electricity. Subsequent to the approval of the land use being granted, two appeals of the Connecticut regulatory authority’s approval were filed and the Attorney General of Massachusetts, the state where substantially all of the electricity generated will be used, contested the purchase agreements for the electricity to be generated from the land subject to purchase. Settlement terms for one of the two appeals challenging the Connecticut regulatory authority’s land use approval have been agreed to between the party initiating the appeal and the prospective buyer, while negotiations on the other appeal are ongoing. Also, the challenge to the purchase agreements by the Attorney General of Massachusetts has been dismissed. A closing on the land sale contemplated by the Simsbury Option Agreement is subject to several significant contingencies, including the satisfactory outcome of the remaining appeal of the Connecticut regulatory authority’s approval. There is no guarantee that the sale of land as contemplated under the Simsbury Option Agreement will be completed under its current terms, or at all.

From time to time, Griffin is involved, as a defendant, in various litigation matters arising in the ordinary course of business. In the opinion of management, based on the advice of legal counsel, the ultimate liability, if any, with respect to these matters is not expected to be material, individually or in the aggregate, to Griffin's consolidated financial position, results of operations or cash flows.