INDUS Realty Trust (INDT) 10-Q 10 Oct 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Aug. 31, 2014	Oct. 03, 2014
Document and Entity Information	'	'
Entity Registrant Name	'GRIFFIN LAND & NURSERIES INC	'
Entity Central Index Key	'0001037390	'
Document Type	'10-Q	'
Document Period End Date	31-Aug-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--11-30	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	5,149,574
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Aug. 31, 2014	Nov. 30, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Real estate assets at cost, net of accumulated depreciation	$132,103	$131,190
Real estate held for sale	9,950	1,104
Cash and cash equivalents	16,490	14,179
Deferred income taxes	7,003	5,975
Available for sale securities - Investment in Centaur Media plc	1,916	2,208
Note receivable	1,425	'
Proceeds held in escrow	'	8,860
Proceeds held in escrow	1,000	'
Property and equipment, net of accumulated depreciation	235	1,950
Other assets	14,274	13,634
Assets of discontinued operation	242	5,627
Total assets	184,638	184,727
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Mortgage loans	70,673	66,708
Deferred revenue	7,697	8,467
Accounts payable and accrued liabilities	3,036	3,011
Dividend payable	'	1,029
Other liabilities	6,467	6,629
Liabilities of discontinued operation	44	768
Total liabilities	87,917	86,612
Commitments and Contingencies (Note 11)	'	'
Stockholders' Equity	'	'
Common stock, par value $0.01 per share, 10,000,000 shares authorized, 5,534,687 shares issued and 5,146,366 shares outstanding	55	55
Additional paid-in capital	107,829	107,603
Retained earnings	2,995	4,372
Accumulated other comprehensive loss, net of tax	-692	-449
Treasury stock, at cost, 388,321 shares	-13,466	-13,466
Total stockholders' equity	96,721	98,115
Total liabilities and stockholders' equity	$184,638	$184,727

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Aug. 31, 2014	Nov. 30, 2013
Consolidated Balance Sheets	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	5,537,895	5,534,687
Common stock, shares outstanding	5,149,574	5,146,366
Treasury stock, shares	388,321	388,321

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014	Aug. 31, 2013
Consolidated Statements of Operations	'	'	'	'
Rental revenue	$5,195	$5,173	$15,225	$14,712
Revenue from property sales	904	331	1,274	2,805
Total revenue	6,099	5,504	16,499	17,517
Operating expenses of rental properties	1,800	1,752	5,998	5,539
Depreciation and amortization expense	1,711	1,665	4,990	4,985
Costs related to property sales	230	128	324	493
General and administrative expenses	1,642	1,690	5,522	6,030
Total expenses	5,383	5,235	16,834	17,047
Operating loss	716	269	-335	470
Interest expense	-987	-938	-2,665	-2,881
Investment income	31	'	219	51
Gain on sale of common stock in Centaur Media plc	'	'	318	504
Loss on debt extinguishment	-51	'	-51	-286
Gain on sale of investment in Shemin Nurseries Holding Corp.	'	'	'	3,397
(Loss) income before income tax provision	-291	-669	-2,514	1,255
Income tax benefit (provision)	93	179	993	-455
(Loss) income from continuing operations	-198	-490	-1,521	800
Discontinued operations, net of tax:	'	'	'	'
Gain (Loss) from landscape nursery business, including loss on sale of assets of $28 net of tax, in the 2014 nine month period	26	-439	144	-531
Net (loss) income	($172)	($929)	($1,377)	$269
Basic net (loss) income per common share:	'	'	'	'
(Loss) income from continuing operations (in dollars per share)	($0.04)	($0.10)	($0.30)	$0.16
Loss from discontinued operations (in dollars per share)	$0.01	($0.08)	$0.03	($0.11)
Basic net (loss) income per common share (in dollars per share)	($0.03)	($0.18)	($0.27)	$0.05
Diluted net (loss) income per common share:	'	'	'	'
(Loss) income from continuing operations (in dollars per share)	($0.04)	($0.10)	($0.30)	$0.16
Loss from discontinued operations (in dollars per share)	$0.01	($0.08)	$0.03	($0.11)
Diluted net (loss) income per common share (in dollars per share)	($0.03)	($0.18)	($0.27)	$0.05

Consolidated_Statements_of_Ope1

Consolidated Statements of Operations (Parenthetical) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2014	Aug. 31, 2014
Consolidated Statements of Operations	'	'
Gain (Loss) from sale of assets net of tax	$28	$2,014

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014	Aug. 31, 2013
Consolidated Statements of Comprehensive Income (Loss)	'	'	'	'
Net (loss) income	($172)	($929)	($1,377)	$269
Other comprehensive income (loss), net of tax:	'	'	'	'
Reclassifications included in net (loss) income	158	122	-33	20
Increase (decrease) in fair value of Centaur Media plc	-147	324	180	-348
Unrealized (loss) gain on cash flow hedges	-58	357	-390	624
Total other comprehensive income (loss), net of tax	-47	803	-243	296
Total comprehensive (loss) income	($219)	($126)	($1,620)	$565

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Stockholders' Equity (USD $)	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Total
In Thousands, except Share data, unless otherwise specified
Balance at Nov. 30, 2012	$55	$107,056	$11,222	($721)	($13,466)	$104,146
Balance (in shares) at Nov. 30, 2012	5,527,911	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'
Exercise of employee stock options, net of reversal of tax benefit on forfeited stock options (in shares)	6,776	'	'	'	'	'
Total other comprehensive income (loss), net of tax	'	'	'	'	'	296
Balance at Aug. 31, 2013	55	'	'	'	-13,466	105,149
Balance (in shares) at Aug. 31, 2013	5,534,687	'	'	'	'	'
Balance at Dec. 01, 2012	'	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'
Stock-based compensation	'	358	'	'	'	358
Exercise of employee stock options, net of reversal of tax benefit on forfeited stock options of $38	'	80	'	'	'	80
Net (loss) income	'	'	269	'	'	269
Total other comprehensive income (loss), net of tax	'	'	'	296	'	296
Balance at Aug. 31, 2013	'	107,494	11,491	-425	-13,466	105,149
Balance at Nov. 30, 2013	55	107,603	4,372	-449	-13,466	98,115
Balance (in shares) at Nov. 30, 2013	5,534,687	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'
Stock-based compensation	'	146	'	'	'	146
Exercise of employee stock options, net of reversal of tax benefit on forfeited stock options of $38	'	80	'	'	'	80
Exercise of employee stock options, net of reversal of tax benefit on forfeited stock options (in shares)	3,208	'	'	'	'	'
Net (loss) income	'	'	-1,377	'	'	-1,377
Total other comprehensive income (loss), net of tax	'	'	'	-243	'	-243
Balance at Aug. 31, 2014	$55	$107,829	$2,995	($692)	($13,466)	$96,721
Balance (in shares) at Aug. 31, 2014	5,537,895	'	'	'	'	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2014	Aug. 31, 2013
Operating activities:	'	'
Net (loss) income	($1,377)	$269
Loss from discontinued operation	-144	531
(Loss) income from continuing operations	-1,521	800
Adjustments to reconcile (loss) income from continuing operations to net cash used in operating activities of continuing operations:	'	'
Depreciation and amortization	4,990	4,985
Deferred income taxes	-993	455
Gain on sales of property	-950	-2,312
Gain on sale of common stock in Centaur Media plc	-318	-504
Stock-based compensation expense	276	317
Amortization of debt issuance costs	196	205
Accretion of discount on note receivable	-139	'
Loss on debt extinguishment	51	286
Gain on sale of investment in Shemin Nurseries Holding Corp.	'	-3,397
Changes in assets and liabilities:	'	'
Other assets	-1,480	-775
Accounts payable and accrued liabilities	-207	250
Deferred revenue	504	208
Other liabilities	248	470
Net cash provided by operating activities of continuing operations	657	988
Net cash used in operating activities of discontinued operation	-69	-1,879
Net cash provided by (used in) operating activities	588	-891
Investing activities:	'	'
Additions to real estate assets	-12,473	-12,262
Proceeds from property sales returned from escrow	8,864	6,934
Proceeds from Collection of Notes Receivable	2,750	'
Proceeds from sales of common stock in Centaur Media plc	566	1,160
Proceeds from sale of business	169	'
Additions to property and equipment	-61	-104
Proceeds from the sale of investment in Shemin Nurseries Holding Corp.	'	3,418
Proceeds from sales of properties, net of expenses	'	505
Net cash (used in) provided by investing activities	-185	-349
Financing activities:	'	'
Proceeds from debt	5,477	9,100
Payments of debt	-1,512	-1,402
Dividends paid to stockholders	-1,029	-1,028
Refinancing proceeds held in escrow	1,000	'
Debt issuance costs	-108	-436
Exercise of stock options	80	80
Debt modification costs	'	-70
Net cash provided by financing activities	1,908	6,244
Net increase in cash and cash equivalents	2,311	5,004
Cash and cash equivalents at beginning of period	14,179	10,181
Cash and cash equivalents at end of period	$16,490	$15,185

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Aug. 31, 2014
Summary of Significant Accounting Policies	'
Summary of Significant Accounting Policies	'
	1.Summary of Significant Accounting Policies
	Basis of Presentation
	The accompanying unaudited consolidated financial statements of Griffin Land & Nurseries, Inc. (“Griffin”) reflect Griffin’s real estate business, conducted through its wholly-owned subsidiary, Griffin Land, LLC (“Griffin Land”) and Griffin’s landscape nursery business, conducted through its wholly-owned subsidiary, Imperial Nurseries, Inc. (“Imperial”) that is reported as a discontinued operation (see below).  Griffin Land is principally engaged in the development, management and leasing of industrial and commercial properties. Periodically, Griffin Land may sell certain portions of its undeveloped land that it has owned for an extended time period and the use of which is not consistent with Griffin Land’s core development and leasing strategy.
	Imperial’s growing operations are reflected in the accompanying unaudited consolidated financial statements as a discontinued operation due to the sale, effective January 8, 2014, of its inventory and certain of its assets (the “Imperial Sale”) to Monrovia Connecticut LLC (“Monrovia”), a subsidiary of Monrovia Nursery Company (see Notes 2, 4 and 10).  Concurrent with the Imperial Sale, a subsidiary of Griffin and Imperial entered into a long-term lease with Monrovia for Imperial’s Connecticut production nursery.  As the growing operations of Imperial are reflected as a discontinued operation in Griffin’s unaudited consolidated financial statements, Griffin’s continuing operations presented in the accompanying financial statements solely reflect its real estate business and, therefore, industry segment information is not presented.  Accordingly, certain prior period amounts in Griffin’s unaudited consolidated financial statements have been reclassified to conform to the current presentation which better reflects Griffin’s real estate business, including presentation of an unclassified balance sheet consistent with real estate industry practice.  Certain parts of Imperial’s prior year results, such as rental revenue and expense related to the leasing of Imperial’s Florida farm to another grower and certain expenses related to the property and equipment of Imperial’s Connecticut farm, which continues to be owned by Griffin and leased to Monrovia, are included in Griffin’s continuing operations.
	Through the fiscal year ended November 30, 2013 (“fiscal 2013”), Griffin reported on a 52-53 week fiscal year that ended on the Saturday nearest November 30 and included four quarters of 13 weeks each.  Starting in the fiscal year ending November 30, 2014 (“fiscal 2014”), Griffin is reporting on a twelve month fiscal year that will end on November 30 with interim periods comprised of three months that end on the last day of the third month of each quarter.  Accordingly, the fiscal 2014 third quarter ended on August 31, 2014.
	These financial statements have been prepared in conformity with the standards of accounting measurement set forth by Financial Accounting Standards Board (“FASB”) ASC 270, “Interim Reporting.”  The accompanying financial statements have been prepared in accordance with the accounting policies stated in Griffin’s consolidated audited financial statements for fiscal 2013 included in Griffin’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission on February 13, 2014, and should be read in conjunction with the Notes to Consolidated Financial Statements appearing in that report. All adjustments, comprising only normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of results for the interim periods, have been reflected and all intercompany transactions have been eliminated.  The consolidated balance sheet data as of November 30, 2013 was derived from Griffin’s audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”).
	The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses in the reporting period.  Griffin regularly evaluates estimates and assumptions related to the useful life and recoverability of long-lived assets, stock-based compensation expense, deferred income tax asset valuations, valuation of derivative instruments and the estimated costs to complete required offsite improvements to land sold.  Griffin bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by Griffin may differ materially and adversely from Griffin’s estimates.  To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
	As of August 31, 2014, Griffin was a party to several interest rate swap agreements to hedge its interest rate exposures.  Griffin does not use derivatives for speculative purposes.  Griffin applies FASB ASC 815-10, “Derivatives and Hedging,” (“ASC 815-10”) as amended, which establishes accounting and reporting standards for derivative instruments and hedging activities.  ASC 815-10 requires Griffin to recognize all derivatives as either assets or liabilities on its consolidated balance sheet and measure those instruments at fair value.  The changes in the fair values of the interest rate swap agreements are assessed in accordance with ASC 815-10 and reflected in the carrying values of the interest rate swap agreements on Griffin’s consolidated balance sheet.  The estimated fair values are based primarily on projected future swap rates.
	Griffin applies cash flow hedge accounting to its interest rate swap agreements that are designated as hedges of the variability of future cash flows from floating rate liabilities based on the benchmark interest rates.  The change in fair values of Griffin’s interest rate swap agreements are recorded as components of accumulated other comprehensive income in stockholders’ equity to the extent they are effective.  Any ineffective portions of the change in fair value of these instruments would be recorded as interest expense.
	The results of operations for the three months ended August 31, 2014 (the “2014 third quarter”) and the nine months ended August 31, 2014 (the “2014 nine month period”) are not necessarily indicative of the results to be expected for the full year. The thirteen and thirty-nine weeks ended August 31, 2013 are referred to herein as the “2013 third quarter” and “2013 nine month period,” respectively.
	Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers,” which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry specific guidance.  This standard requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers.  Additionally, the update requires improved disclosures to help users of financial statements better understand the nature, amount, timing and uncertainty of revenue that is recognized.  The update permits the use of either the retrospective or cumulative effect transition method.  This update will be effective for Griffin in fiscal 2018 and early adoption is not permitted.  Certain aspects of this new standard may affect revenue recognition of Griffin Land.  Griffin is evaluating the impact that the application of this update will have on its consolidated financial statements.
	In July 2013, the FASB issued Accounting Standards Update No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” which provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists.  Specifically, this update requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with certain exceptions.  This update was effective for Griffin in the 2014 second quarter.  The adoption of this guidance did not have an impact on Griffin’s financial position or results of operations.

Discontinued_Operation

Discontinued Operation	9 Months Ended
	Aug. 31, 2014
Discontinued Operation	'
Discontinued Operation	'
	2.    Discontinued Operation
	Effective January 8, 2014, in accordance with the terms of the Imperial Sale (see Notes 1, 4 and 10), Imperial sold its inventory and certain assets for $732 in cash and a non-interest bearing note receivable of $4,250 (the “Promissory Note”).  Net cash of $732 was received from Monrovia in the 2014 nine month period and Griffin paid $563 in severance and other expenses.  The Promissory Note is due in two installments: $2,750 was due on June 1, 2014 and $1,500 is due on June 1, 2015. The Promissory Note was discounted at 7% to its present value of $4,036 at inception and is secured by an irrevocable letter of credit.  In the 2014 third quarter, Griffin received payment of the $2,750 installment from Monrovia.  Under the terms of the Imperial Sale, Griffin and Imperial agreed to indemnify Monrovia for any potential environmental liabilities relating to periods prior to the effective date of the Imperial Sale and also agreed to certain non-competition restrictions for a four-year period.
	Concurrent with the Imperial Sale, Imperial and River Bend Holdings, LLC, a wholly-owned subsidiary of Griffin, entered into a Lease and Option Agreement and an Addendum to such agreement (the “Imperial Lease”, and together with the Imperial Sale, the “Imperial Transaction”) with Monrovia, pursuant to which Monrovia is leasing Imperial’s Connecticut production nursery for a ten-year period, with options to extend for up to an additional fifteen years exercisable by Monrovia. The Imperial Lease provides for net annual rent payable to Griffin of $500 for each of the first five years with rent for subsequent years determined in accordance with the Imperial Lease. The Imperial Lease also grants Monrovia an option to purchase most of the land, land improvements and other operating assets that were used by Imperial in its Connecticut growing operations during the first thirteen years of the lease period for $10,500, or $7,000 if only a certain portion of the land is purchased, subject in each case to certain adjustments as provided for in the Imperial Lease.  Accordingly, the operating results of Imperial’s growing operations are reflected as a discontinued operation in Griffin’s consolidated statements of operations for all periods presented and the assets and liabilities of the growing operations of Imperial (excluding those assets that are part of the Imperial Lease) are shown as assets and liabilities of the discontinued operation on Griffin’s consolidated balance sheets.  The property and equipment previously used by Imperial and currently leased to Monrovia was reclassified on January 8, 2014 from property and equipment to real estate assets on Griffin’s consolidated balance sheet. The property and equipment had a cost of $11,485 and accumulated depreciation of $9,850 at the time it was reclassified (see Notes 4 and 6).
	Revenue and the pretax income (loss) from Imperial’s growing operations, reflected as a discontinued operation in Griffin’s consolidated statements of operations, were as follows:
		For the Three Months Ended,						For the Nine Months Ended,
		August 31,			August 31,			August 31,		August 31,
		2014			2013			2014		2013
	Net sales and other revenue	$	79		$	2,727		$	159	$	11,667
	Pretax income (loss)	$	62		$	(627	)	$	306	$	(832	)
	The pretax income of Imperial’s discontinued operation in the 2014 nine month period includes $451 for the reclassification of actuarial gains related to Griffin’s postretirement benefits program from other comprehensive income into pretax income as a result of the termination of Griffin’s postretirement benefits program (see Note 10).
	In the thirteen weeks ended November 30, 2013 (the “2013 fourth quarter”), a charge of $10,400 was included in cost of landscape nursery sales to reduce Imperial’s nursery inventories to fair value, which was the net realizable value based on the terms of the Imperial Sale.  The pretax loss from the Imperial Sale in the 2014 nine month period was as follows:
	Consideration received from Monrovia, reflecting cash of $732 and note receivable of $4,036	$	4,768
	Carrying value of assets sold, principally inventory	(4,561		)
	Curtailment of employee benefit plan (see Note 10)	309
	Severance and other expenses	(563		)
	Pretax loss	$	(47	)
	The assets and liabilities of Imperial’s growing operation, reflected as a discontinued operation, are as follows:
		August 31, 2014			November 30, 2013
	Assets:
	Accounts receivable	$	4		$	1,151
	Inventories	—			4,116
	Other	238			360
		$	242		$	5,627
	Liabilities:
	Accounts payable and accrued liabilities	$	44		$	768

Fair_Value

Fair Value	9 Months Ended
	Aug. 31, 2014
Fair Value	'
Fair Value	'
	3.Fair Value
	Griffin applies the provisions of FASB ASC 820, “Fair Value Measurement” (“ASC 820”), which establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.  An asset or liability’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.  ASC 820 establishes three levels of inputs that may be used to measure fair value, as follows:
	Level 1 applies to assets or liabilities for which there are quoted market prices in active markets for identical assets or liabilities.  Griffin’s available-for-sale securities are considered Level 1 within the fair value hierarchy.
	Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, such as quoted prices for similar assets or liabilities in active markets; quoted prices for assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.  Level 2 liabilities include Griffin’s interest rate swap derivatives (see Note 7).  These inputs are readily available in public markets or can be derived from information available in publicly quoted markets; therefore, Griffin has categorized these derivative instruments as Level 2 within the fair value hierarchy.
	Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
	During the 2014 nine month period, Griffin did not transfer any assets or liabilities in or out of Levels 1 or 2.  The following are Griffin’s financial assets and liabilities carried at fair value and measured at fair value on a recurring basis:
		August 31, 2014
		Quoted Prices in			Significant			Significant
		Active Markets for			Observable			Unobservable
		Identical Assets			Inputs			Inputs
		(Level 1)			(Level 2)			(Level 3)
	Marketable equity securities	$	1,916		$	—		$	—
	Interest rate swap asset	$	—		$	44		$	—
	Interest rate swap liabilities	$	—		$	2,130		$	—
		November 30, 2013
		Quoted Prices in			Significant			Significant
		Active Markets for			Observable			Unobservable
		Identical Assets			Inputs			Inputs
		(Level 1)			(Level 2)			(Level 3)
	Marketable equity securities	$	2,208		$	—		$	—
	Interest rate swap asset	$	—		$	63		$	—
	Interest rate swap liabilities	$	—		$	2,285		$	—
	The carrying and estimated fair values of Griffin’s financial instruments are as follows:
		Fair Value		August 31, 2014						November 30, 2013
		Hierarchy		Carrying			Estimated			Carrying		Estimated
		Level		Value			Fair Value			Value		Fair Value
	Financial assets:
	Cash and cash equivalents	1		$	16,490		$	16,490		$	14,179	$	14,179
	Available-for-sale securities	1		1,916			1,916			2,208		2,208
	Interest rate swap	2		44			44			63		63
	Financial liabilities:
	Mortgage loans	2		70,673			71,024			66,708		67,931
	Interest rate swaps	2		2,130			2,130			2,285		2,285
	The fair values of the available-for-sale securities are based on quoted market prices.  The fair values of the mortgage debt are estimated based on current rates offered to Griffin for similar debt of the same remaining maturities, and additionally, Griffin considers its credit worthiness in determining the fair value of its debt.  The fair values of the interest rate swaps (used for purposes other than trading) are determined based on discounted cash flow models that incorporate the cash flows of the derivatives as well as the current OIS rate and swap curve along with other market data, taking into account current interest rates and the credit worthiness of the counterparty for assets and the credit worthiness of Griffin for liabilities.

Real_Estate_Assets

Real Estate Assets	9 Months Ended
	Aug. 31, 2014
Real Estate Assets	'
Real Estate Assets	'
	4.Real Estate Assets
	Real estate assets consist of:
		Estimated		August 31, 2014			November 30, 2013
		Useful Lives
	Land			$	17,961		$	17,507
	Land improvements	10 to 30 years		18,422			15,529
	Buildings and improvements	10 to 40 years		135,739			122,057
	Tenant improvements	Shorter of useful life or terms of related lease		14,779			16,126
	Machinery and equipment	3 to 20 years		11,810			4,188
	Development costs			6,664			16,861
				205,375			192,268
	Accumulated depreciation			(73,272		)	(61,078		)
				$	132,103		$	131,190
	Included in real estate assets, net as of August 31, 2014 was $1,500 reflecting the net book value of Imperial’s Connecticut farm assets that were leased to Monrovia effective January 8, 2014 (see Notes 1, 2 and 6).  Prior to that date, these assets were reported as part of property and equipment.  The assets reclassified from property and equipment to real estate assets had a cost of $11,485, net of accumulated depreciation of $9,850 at the time of the reclassification.
	Total depreciation expense and capitalized interest related to real estate assets, net were as follows:
		For the Three Months Ended,						For the Nine Months Ended,
		August 31,			August 31,			August 31,		August 31,
		2014			2013			2014		2013
	Depreciation expense	$	1,459		$	1,388		$	4,257	$	4,136
	Capitalized interest	$	49		$	—		$	424	$	—
	In the 2013 fourth quarter, Griffin Land completed the sale of approximately 90 acres of undeveloped land for approximately $9,000 in cash, before transaction costs (the “Windsor Land Sale”).  The land sold is located in Windsor, Connecticut and is part of an approximately 268 acre parcel of undeveloped land that straddles the town line between Windsor and Bloomfield, Connecticut.  Under the terms of the Windsor Land Sale, Griffin Land and the buyer will each construct roadways connecting the land parcel sold with existing town roads. The roads to be built will become new town roads, thereby providing public access to the remaining acreage in Griffin Land’s land parcel.  As a result of Griffin Land’s continuing involvement with the land sold, the Windsor Land Sale is being accounted for under the percentage of completion method, whereby the revenue and gain on the sale are being recognized as the total costs related to the property sold are incurred.  At the closing of the Windsor Land Sale, cash proceeds of $8,860 were placed in escrow for the potential purchase of a replacement property in a like-kind exchange under Section 1031 of the Internal Revenue Code of 1986, as amended, which was reflected as Proceeds Held in Escrow on Griffin’s consolidated balance sheet as of November 30, 2013.  The proceeds held in escrow were returned to Griffin in the 2014 second quarter as a replacement property was not acquired.
	As of August 31, 2014, approximately 44% of the total costs related to the Windsor Land Sale have been incurred; therefore, from the date of the Windsor Land Sale through August 31, 2014, approximately 44% of the total revenue and pretax gain on the sale have been recognized in Griffin’s consolidated statements of operations.  Griffin’s consolidated statements of operations for the 2014 third quarter and 2014 nine month period include revenue of $904 and $1,274, respectively, and a pretax gain of $674 and $950, respectively, from the Windsor Land Sale.  The balance of the revenue and pretax gain on sale will be recognized when the remaining costs are incurred, which is expected to take place mostly in the fourth quarter of fiscal 2014 and the first half of fiscal 2015.  Included on Griffin’s consolidated balance sheet as of August 31, 2014, is deferred revenue of $5,027 that will be recognized as the remaining costs are incurred (see Note 10).  Including the pretax gain on sale of $1,990 recognized in fiscal 2013 and $950 recognized in the 2014 nine month period, the total pretax gain on the Windsor Land Sale is expected to be approximately $6,688 after all revenue is recognized and all costs are incurred.  While management has used its best estimates, based on industry knowledge and experience, in projecting the total costs of the required roadways, increases or decreases in future costs as compared with current estimated amounts would reduce or increase the gain recognized in future periods.
	Real estate assets held for sale consist of:
		August 31, 2014			November 30, 2013
	Land	$	293		$	30
	Development costs	9,657			1,074
		$	9,950		$	1,104
	The increase in real estate held for sale as of August 31, 2014 reflects the reclassification from real estate assets into real estate assets held for sale of costs related to a residential development in Simsbury, Connecticut .and two land parcels that are under contract to be sold. The residential development is being offered for sale either in its entirety or in segments.

Investments

Investments	9 Months Ended
	Aug. 31, 2014
Investments	'
Investments	'
	5.Investments
	Centaur Media plc
	Griffin’s investment in the common stock of Centaur Media plc (“Centaur Media”) is accounted for as an available-for-sale security under FASB ASC 320-10, “Investments — Debt and Equity Securities.”  Accordingly, changes in the fair value of Centaur Media, reflecting both changes in the stock price and changes in the foreign currency exchange rate, are included, net of income taxes, in accumulated other comprehensive income (see Note 9).
	As of November 30, 2013, Griffin held 2,452,462 shares of Centaur Media common stock.  In the 2014 nine month period, Griffin sold 500,000 shares of its Centaur Media common stock for total cash proceeds of $566, after transaction costs.  The sale of Centaur Media common stock resulted in a pretax gain of $318 in the 2014 nine month period.  Griffin utilized the average cost method to determine its gain on the sale of Centaur stock.  As of August 31, 2014, Griffin held 1,952,462 shares of Centaur Media common stock.
	The cost, unrealized gain and fair value of Griffin’s investment in Centaur Media are as follows:
		August 31, 2014		November 30, 2013
	Fair value	$	1,916	$	2,208
	Cost	1,014		1,274
	Unrealized gain	$	902	$	934
	Shemin Nurseries Holding Corp.
	As of December 1, 2012, Griffin held an approximate 14% equity interest in Shemin Nurseries Holding Corp. (“SNHC”), which operated a landscape nursery distribution business through its subsidiary.  Griffin accounted for its investment in SNHC under the cost method of accounting for investments.  As a result of cash distributions from SNHC in years prior to fiscal 2013 which were treated as returns of investment, Griffin did not have any remaining book value in its investment in SNHC as of December 1, 2012.  On January 18, 2013, Griffin completed the sale of its investment in SNHC for total cash proceeds of $3,418, resulting in a pretax gain of $3,397.

Property_and_Equipment

Property and Equipment	9 Months Ended
	Aug. 31, 2014
Property and Equipment	'
Property and Equipment	'
	6.Property and Equipment
	Property and equipment consist of:
		Estimated Useful	August 31, 2014			November 30, 2013
		Lives
	Land		$	—		$	437
	Land improvements	10 to 20 years	—			1,561
	Buildings and improvements	10 to 40 years	—			1,865
	Machinery and equipment	3 to 20 years	1,223			12,135
			1,223			15,998
	Accumulated depreciation		(988		)	(14,048		)
			$	235		$	1,950
	As a result of the Imperial Lease, certain assets of the Connecticut farm were reclassified from property and equipment to real estate assets on January 8, 2014.  The net book value of the assets reclassified was $1,635, reflecting cost of $11,485 net of accumulated depreciation of $9,850 (see Notes 2 and 4).
	Griffin incurred new capital lease obligations of $53 and $48 related to equipment acquisitions in the 2014 nine month period and the 2013 nine month period, respectively.

Mortgage_Loans

Mortgage Loans	9 Months Ended
	Aug. 31, 2014
Mortgage Loans	'
Mortgage Loans	'
	7.Mortgage Loans
	Griffin’s mortgage loans, which are nonrecourse, consist of:
			August 31, 2014		November 30, 2013
	6.30%, due May 1, 2014		$	—	$	99
	5.73%, due August 1, 2015		18,298		18,615
	8.13%, due April 1, 2016		—		3,603
	7.0%, due October 2, 2017		—		5,779
	Variable rate mortgage, due October 2, 2017*		6,437		6,563
	Variable rate mortgage, due February 1, 2019*		10,955		11,150
	Variable rate mortgage, due August 1, 2019*		7,737		7,869
	Variable rate mortgage, due January 27, 2020*		3,876		3,961
	Variable rate mortgage, due September 1, 2023*		8,924		9,069
	5.09%, due July 1, 2029		7,838		—
	5.09%, due July 1, 2029		6,608		—
	Total nonrecourse mortgages		$	70,673	$	66,708
	*	Griffin entered into interest rate swap agreements effectively to fix the interest rates on these loans (see below).
	As of August 31, 2014, Griffin was a party to several interest rate swap agreements related to its variable rate nonrecourse mortgages on certain of its real estate assets.  Griffin accounts for its interest rate swap agreements as effective cash flow hedges (see Note 3).  No ineffectiveness on the cash flow hedges was recognized as of August 31, 2014 and none is anticipated over the term of the agreements.  Amounts in accumulated other comprehensive income (loss) will be reclassified into interest expense over the term of the swap agreements to achieve fixed rates on each mortgage.  None of the interest rate swap agreements contain any credit risk related contingent features.  In the 2014 nine month period, Griffin recognized a loss (included in other comprehensive loss) before taxes of $619 on its interest rate swap agreements.  In the 2013 nine month period, Griffin recognized a gain (included in other comprehensive loss) before taxes of $990 on its interest rate swap agreements.
	As of August 31, 2014, $989 was expected to be reclassified over the next twelve months from accumulated other comprehensive loss to interest expense.  As of August 31, 2014, the net fair value of Griffin’s interest rate swap agreements was $2,086, with $44 included in other assets and $2,130 included in other liabilities on Griffin’s consolidated balance sheet.
	On June 6, 2014, a subsidiary of Griffin, Griffin Center Development I, LLC, completed the refinancing of its nonrecourse mortgage loan (the “GCD Mortgage Loan”) with Farm Bureau Life Insurance Company (“Farm Bureau”) that was due April 1, 2016. The GCD Mortgage Loan is collateralized by a 165,000 square foot flex building in Windsor, Connecticut. At the time of the refinancing, the GCD Mortgage Loan had a balance of $3,391 and had an interest rate of 8.13%.  The refinancing increased the loan amount to $7,868, reduced the interest rate to 5.09% and extended the loan term to 15 years from the time of the refinancing, with payments based on a 15 year amortization schedule.
	Also on June 6, 2014, a subsidiary of Griffin, Tradeport Development I, LLC, completed the refinancing of its nonrecourse mortgage loan (the “TD Mortgage Loan”) with Farm Bureau that was due October 2, 2017. The TD Mortgage Loan is collateralized by a 100,000 square foot industrial building and a 57,000 square foot industrial building, both located in Windsor, Connecticut. At the time of the refinancing, the TD Mortgage Loan had a balance of $5,632 and had an interest rate of 7.0%. The refinancing increased the loan amount to $6,632, reduced the interest rate to 5.09% and extended the loan term to 15 years from the time of the refinancing, with payments based on a 15 year amortization schedule. The mortgage loan proceeds of $1,000 from the refinancing of the TD Mortgage Loan are being held in escrow. The escrowed funds will be released to Griffin if the 57,000 square foot industrial building, which is expected to become vacant after the current short-term lease of that building expires, is re-leased under terms agreed upon with Farm Bureau.  If a replacement lease reflecting the rental terms agreed upon with Farm Bureau is not obtained, the proceeds being held in escrow are required to be used to make a partial prepayment, without penalty, on the TD Mortgage Loan.
	The GCD Mortgage Loan and the TD Mortgage Loan are cross-collateralized and cross-defaulted with each other. The loans may not be voluntarily prepaid for seven years; thereafter, any prepayment would require a prepayment fee and the simultaneous prepayment of both loans.
	Griffin reported $51 for the write off of all deferred costs related to the two mortgages refinanced with Farm Bureau as a loss on debt extinguishment on Griffin’s consolidated statement of operations.

Revolving_Credit_Agreement

Revolving Credit Agreement	9 Months Ended
	Aug. 31, 2014
Revolving Credit Agreement	'
Revolving Credit Agreement	'
	8.Revolving Credit Agreement
	Griffin has a $12,500 revolving credit line with Webster Bank (the “Webster Credit Line”) that expires May 1, 2015.  Griffin has an option to extend the Webster Credit Line for an additional year.  Interest on the outstanding borrowings under the Webster Credit Line are at the one month LIBOR rate plus 2.75%.  The Webster Credit Line is collateralized by Griffin Land’s properties in Griffin Center South, aggregating approximately 235,000 square feet, and an approximately 48,000 square foot single-story office building in Griffin Center.  There have been no borrowings under the Webster Credit Line since its inception.

Stockholders_Equity

Stockholders' Equity	9 Months Ended
	Aug. 31, 2014
Stockholders' Equity	'
Stockholders' Equity	'
	9.Stockholders’ Equity
	Per Share Results
	Basic and diluted per share results were based on the following:
			For the Three Months Ended,						For the Nine Months Ended,
			August 31,			August 31,			August 31,			August 31,
			2014			2013			2014			2013
	(Loss) income from continuing operations for computation of basic and diluted per share results, net of tax		$	(198	)	$	(490	)	$	(1,521	)	$	800
	Income (loss) from discontinued operations for computation of basic and diluted per share results, net of tax		26			(439		)	144			(531		)
	Net (loss) income		$	(172	)	$	(929	)	$	(1,377	)	$	269
	Weighted average shares outstanding for computation of basic per share results		5,150,000			5,146,000			5,148,000			5,143,000
	Incremental shares from assumed exercise of Griffin stock options (a)		—			—			—			7,000
	Adjusted weighted average shares for computation of diluted per share results		5,150,000			5,146,000			5,148,000			5,150,000
	(a)	Incremental shares from the assumed exercise of Griffin stock options are not included in periods where the inclusion of such shares would be anti-dilutive. Such assessment is based on income (loss) from continuing operations when net income includes discontinued operations. The incremental shares from the assumed exercise of stock options in the three month and nine month periods ended August 31, 2014 would have been 3,000 and 12,000, respectively. The incremental shares from the assumed exercise of stock options in the three months ended August 31, 2013 would have been 10,000.
	Griffin Stock Option Plan
	Stock options are granted by Griffin under the Griffin Land & Nurseries, Inc. 2009 Stock Option Plan (the “2009 Stock Option Plan”).  Options granted under the 2009 Stock Option Plan may be either incentive stock options or non-qualified stock options issued at fair market value on the date approved by Griffin’s Compensation Committee. Vesting of all of Griffin’s previously issued stock options is solely based upon service requirements and does not contain market or performance conditions.  Stock options issued will expire ten years from the grant date.  In accordance with the 2009 Stock Option Plan, stock options issued to non-employee directors upon their initial election to the board of directors are fully exercisable immediately upon the date of the option grant. Stock options issued to non-employee directors upon their reelection to the board of directors vest on the second anniversary from the date of grant. Stock options issued to employees vest in equal installments on the third, fourth and fifth anniversaries from the date of grant. None of the stock options outstanding at August 31, 2014 may be exercised as stock appreciation rights.
	The following options were granted by Griffin under the 2009 Stock Option Plan to non-employee directors upon their re-election to Griffin’s Board of Directors:
			For the Nine Months Ended,
			August 31, 2014					August 31, 2013
			Number of		Fair Value per			Number of		Fair Value per
			Shares		Option at Grant			Shares		Option at Grant
					Date					Date
	Non-employee directors		8,532		$	12.42		8,112		$	12.94
	The fair values of all options granted were estimated as of the grant date using the Black-Scholes option-pricing model.  Assumptions used in determining the fair value of the stock options granted in the 2014 and 2013 nine month periods were as follows:
			For the Nine Months Ended,
			August 31, 2014		August 31, 2013
	Expected volatility		38.9	%	40.3	%
	Risk free interest rate		2.16	%	1.33	%
	Expected option term (in years)		8.5		8.5
	Annual dividend yield		0.7	%	0.7	%
	Activity under the Griffin Stock Option Plan is summarized as follows:
			For the Nine Months Ended,
			August 31, 2014					August 31, 2013
			Number of		Weighted			Number of		Weighted
			Shares		Avg.			Shares		Avg.
					Exercise					Exercise
					Price					Price
	Outstanding at beginning of period		239,677		$	30.35		243,841		$	29.88
	Granted		8,532		$	28.12		8,112		$	29.58
	Exercised		(3,208	)	$	24.94		(6,776	)	$	11.81
	Forfeited		(23,000	)	$	30.27		(5,500	)	$	31.12
	Outstanding at end of period		222,001		$	30.35		239,677		$	30.35
	Range of Exercise		Outstanding at		Weighted			Weighted Avg.		Total
	Prices		August 31, 2014		Avg. Exercise			Remaining		Intrinsic
					Price			Contractual Life		Value
								(in years)
	$23.00-$28.00		18,068		$	25.45		6.2		$	63
	$28.00-$32.00		120,858		$	28.90		6.4		$	26
	$32.00-$39.00		83,075		$	33.52		4.1		$	—
			222,001		$	30.35		5.5		$	89
	Number of option holders at August 31, 2014		14
	Compensation expense and related tax benefits for stock options were as follows:
			For the Three Months Ended,						For the Nine Months Ended,
			August 31,			August 31,			August 31,			August 31,
			2014			2013			2014			2013
	Compensation expense - continuing operations		$	63		$	81		$	276		$	317
	Compensation expense - discontinued operations		—			10			(130		)	41
	Net compensation expense		$	63		$	91		$	146		$	358
	Related tax benefit - continuing operations		$	19		$	25		$	59		$	82
	Related tax benefit - discontinued operations		—			4			(15		)	4
	Net related tax benefit		$	19		$	29		$	44		$	86
	As of August 31, 2014, the unrecognized compensation expense related to nonvested stock options that will be recognized during future periods is as follows:
	Balance of Fiscal 2014		$	63
	Fiscal 2015		$	153
Fiscal 2016		$	33
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss, net of tax, is comprised of the following:
		Unrealized gain			Unrealized gain			Actuarial gain
		(loss) on cash			(loss) on investment			on postretirement
		flow hedges			in Centaur Media			benefits program			Total
Balance November 30, 2013		$	(1,401	)	$	648		$	304		$	(449	)
Other comprehensive (loss) income before reclassfications		(390		)	180			—			(210		)
Amounts reclassified		475			(204		)	(304		)	(33		)
Net activity for other comprehensive loss		85			(24		)	(304		)	(243		)
Balance August 31, 2014		$	(1,316	)	$	624		$	—		$	(692	)
		Unrealized gain			Unrealized gain			Actuarial gain
		(loss) on cash			(loss) on investment			on postretirement
		flow hedges			in Centaur Media			benefits program			Total
Balance December 1, 2012		$	(2,011	)	$	1,054		$	236		$	(721	)
Other comprehensive income (loss) before reclassifications		624			(348		)	—			276
Amounts reclassified		352			(332		)	—			20
Net activity for other comprehensive loss		976			(680		)	—			296
Balance August 31, 2013		$	(1,035	)	$	374		$	236		$	(425	)
The components of other comprehensive (loss) income are as follows:
		For the Three Months Ended,
		August 31, 2014												August 31, 2013
		Pre-Tax				Tax				Net-of-Tax				Pre-Tax				Tax				Net-of-Tax
						(Expense)												(Expense)
						Benefit												Benefit
Reclassifications included in net (loss) income:
Loss on cash flow hedges (interest expense)		$		252		$		(94	)	$		158		$		193		$		(71	)	$		122
Total reclassifications included in net (loss) income		252				(94			)	158				193				(71			)	122
Mark to market adjustment on Centaur Media for a (decrease) increase in the foreign currency exchange rate		(17			)	6				(11			)	49				(17			)	32
Mark to market adjustment on Centaur Media for a (decrease) increase in fair value		(209			)	73				(136			)	450				(158			)	292
(Decrease) increase in fair value adjustments on Griffin’s cash flow hedges		(93			)	35				(58			)	566				(209			)	357
Total change in other comprehensive (loss) income		(319			)	114				(205			)	1,065				(384			)	681
Other comprehensive (loss) income		$	(67		)	$	20			$	(47		)	$	1,258			$	(455		)	$	803
		For the Nine Months Ended,
		August 31, 2014									August 31, 2013
		Pre-Tax			Tax			Net-of-Tax			Pre-Tax			Tax			Net-of-Tax
					(Expense)									(Expense)
					Benefit									Benefit
Reclassifications included in net (loss) income:
Realized gain on sale of Centaur Media (gain on sale)		$	(321	)	$	117		$	(204	)	$	(509	)	$	177		$	(332	)
Termination of postretirement benefits program ($283 net of tax to discontinued operations, $21 net of tax to general and administrative expense)		(485		)	181			(304		)	—			—			—
Loss on cash flow hedges (interest expense)		755			(280		)	475			559			(207		)	352
Total reclassifications included in net (loss) income		(51		)	18			(33		)	50			(30		)	20
Mark to market adjustment on Centaur Media for an increase (decrease) in the foreign currency exchange rate		45			(16		)	29			(174		)	61			(113		)
Mark to market adjustment on Centaur Media for an increase (decrease) in fair value		232			(81		)	151			(361		)	126			(235		)
(Decrease) increase in fair value adjustments on Griffin’s cash flow hedges		(619		)	229			(390		)	990			(366		)	624
Total change in other comprehensive (loss) income		(342		)	132			(210		)	455			(179		)	276
Other comprehensive (loss) income		$	(393	)	$	150		$	(243	)	$	505		$	(209	)	$	296
Cash Dividend
Griffin did not declare a cash dividend in the 2014 or 2013 nine month periods.  During the 2014 first quarter, Griffin paid $1,029 for the cash dividend declared in the 2013 fourth quarter.  During the 2013 first quarter, Griffin paid $1,028 for the cash dividend declared in the 2012 fourth quarter.

Supplemental_Financial_Stateme

Supplemental Financial Statement Information	9 Months Ended
	Aug. 31, 2014
Supplemental Financial Statement Information	'
Supplemental Financial Statement Information	'
	10.Supplemental Financial Statement Information
	Deferred Revenue on Land Sale
	Included in deferred revenue on Griffin’s consolidated balance sheet as of August 31, 2014 is approximately $5,027 related to the Windsor Land Sale that will be recognized as road construction required by the terms of the Windsor Land Sale is completed (see Note 4).
	Supplemental Cash Flow Information
	An increase of $277 in the 2014 nine month period and a decrease of $535 in the 2013 nine month period in Griffin’s Investment in Centaur Media reflect the mark to market adjustments of this investment and did not affect Griffin’s cash.  In the 2014 nine month period, Griffin sold 500,000 shares of its Centaur Media common stock (see Note 5).
	Included in accounts payable and accrued liabilities at August 31, 2014 and November 30, 2013 were $833 and $813, respectively, for additions to real estate assets.  Accounts payable and accrued liabilities related to additions to real estate assets increased by $20 in the 2014 nine month period and decreased by $771 in the 2013 nine month period.
	Interest payments were as follows:
		For the Three Months Ended,				For the Nine Months Ended,
		August 31, 2014		August 31, 2013		August 31, 2014		August 31, 2013
		$	963	$	877	$	2,893	$	2,724
	Effective January 8, 2014, in accordance with the terms of the Imperial Sale (see Notes 1, 2 and 4), Imperial sold its inventory and certain assets for $732 in cash and the Promissory Note.  The Promissory Note is due in two installments: $2,750 was due on June 1, 2014 and $1,500 is due on June 1, 2015 and was discounted at 7% to its present value of $4,036 at inception. The Promissory Note is secured by an irrevocable letter of credit. In the 2014 third quarter, Griffin received payment of the $2,750 installment from Monrovia.
	Other Postretirement Benefits
	As a result of the Imperial Sale (see Note 2), the liability for postretirement benefits, included in other liabilities on Griffin’s consolidated balance sheets, was reduced from $372 at November 30, 2013 to $63 in the 2014 first quarter.  A curtailment gain of $309 is included in the determination of the loss on the Imperial Sale.
	In the 2014 second quarter, Griffin terminated its postretirement benefits program.  Accordingly, the remaining liability under the postretirement benefits program was reversed and all actuarial gains under the postretirement program that had been reflected in accumulated other comprehensive income were reclassified into net income in the 2014 second quarter. As essentially all of the participants in the postretirement benefits program had been employees of Imperial, and charges related to the postretirement benefits program had been included in the results of the landscape nursery business that is now presented as a discontinued operation, the effect of the termination of the postretirement benefits program is mostly reflected in the results of discontinued operation on Griffin’s consolidated statement of operations for the 2014 nine month period.
	Income Taxes
	Griffin’s effective income tax rate on continuing operations was 39.5% for the 2014 nine month period as compared to 36.3% in the 2013 nine month period.  The effective tax rate in the 2014 nine month period is based on management’s projections for the balance of the year.  To the extent that actual results differ from current projections, the effective income tax rate may change.
	As of August 31, 2014, Griffin’s consolidated balance sheet includes a net deferred tax asset of $7,003.  Although Griffin has incurred a cumulative pretax loss from continuing operations (excluding nonrecurring items) for the three fiscal years ended November 30, 2013, management has concluded that a valuation allowance against its net deferred tax assets is not required.
	An examination of Griffin’s fiscal 2007, fiscal 2008 and fiscal 2009 New York state income tax returns was completed in the 2014 third quarter resulting in an increase of $4 to state tax expense.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Aug. 31, 2014
Commitments and Contingencies	'
Commitments and Contingencies	'
	11.Commitments and Contingencies
	As of August 31, 2014, Griffin had committed purchase obligations of approximately $2,456, principally for land improvements to Griffin Land’s properties.
	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.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Aug. 31, 2014
Summary of Significant Accounting Policies	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying unaudited consolidated financial statements of Griffin Land & Nurseries, Inc. (“Griffin”) reflect Griffin’s real estate business, conducted through its wholly-owned subsidiary, Griffin Land, LLC (“Griffin Land”) and Griffin’s landscape nursery business, conducted through its wholly-owned subsidiary, Imperial Nurseries, Inc. (“Imperial”) that is reported as a discontinued operation (see below).  Griffin Land is principally engaged in the development, management and leasing of industrial and commercial properties. Periodically, Griffin Land may sell certain portions of its undeveloped land that it has owned for an extended time period and the use of which is not consistent with Griffin Land’s core development and leasing strategy.
	Imperial’s growing operations are reflected in the accompanying unaudited consolidated financial statements as a discontinued operation due to the sale, effective January 8, 2014, of its inventory and certain of its assets (the “Imperial Sale”) to Monrovia Connecticut LLC (“Monrovia”), a subsidiary of Monrovia Nursery Company (see Notes 2, 4 and 10).  Concurrent with the Imperial Sale, a subsidiary of Griffin and Imperial entered into a long-term lease with Monrovia for Imperial’s Connecticut production nursery.  As the growing operations of Imperial are reflected as a discontinued operation in Griffin’s unaudited consolidated financial statements, Griffin’s continuing operations presented in the accompanying financial statements solely reflect its real estate business and, therefore, industry segment information is not presented.  Accordingly, certain prior period amounts in Griffin’s unaudited consolidated financial statements have been reclassified to conform to the current presentation which better reflects Griffin’s real estate business, including presentation of an unclassified balance sheet consistent with real estate industry practice.  Certain parts of Imperial’s prior year results, such as rental revenue and expense related to the leasing of Imperial’s Florida farm to another grower and certain expenses related to the property and equipment of Imperial’s Connecticut farm, which continues to be owned by Griffin and leased to Monrovia, are included in Griffin’s continuing operations.
	Through the fiscal year ended November 30, 2013 (“fiscal 2013”), Griffin reported on a 52-53 week fiscal year that ended on the Saturday nearest November 30 and included four quarters of 13 weeks each.  Starting in the fiscal year ending November 30, 2014 (“fiscal 2014”), Griffin is reporting on a twelve month fiscal year that will end on November 30 with interim periods comprised of three months that end on the last day of the third month of each quarter.  Accordingly, the fiscal 2014 third quarter ended on August 31, 2014.
	These financial statements have been prepared in conformity with the standards of accounting measurement set forth by Financial Accounting Standards Board (“FASB”) ASC 270, “Interim Reporting.”  The accompanying financial statements have been prepared in accordance with the accounting policies stated in Griffin’s consolidated audited financial statements for fiscal 2013 included in Griffin’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission on February 13, 2014, and should be read in conjunction with the Notes to Consolidated Financial Statements appearing in that report. All adjustments, comprising only normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of results for the interim periods, have been reflected and all intercompany transactions have been eliminated.  The consolidated balance sheet data as of November 30, 2013 was derived from Griffin’s audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”).
	The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses in the reporting period.  Griffin regularly evaluates estimates and assumptions related to the useful life and recoverability of long-lived assets, stock-based compensation expense, deferred income tax asset valuations, valuation of derivative instruments and the estimated costs to complete required offsite improvements to land sold.  Griffin bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by Griffin may differ materially and adversely from Griffin’s estimates.  To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
	As of August 31, 2014, Griffin was a party to several interest rate swap agreements to hedge its interest rate exposures.  Griffin does not use derivatives for speculative purposes.  Griffin applies FASB ASC 815-10, “Derivatives and Hedging,” (“ASC 815-10”) as amended, which establishes accounting and reporting standards for derivative instruments and hedging activities.  ASC 815-10 requires Griffin to recognize all derivatives as either assets or liabilities on its consolidated balance sheet and measure those instruments at fair value.  The changes in the fair values of the interest rate swap agreements are assessed in accordance with ASC 815-10 and reflected in the carrying values of the interest rate swap agreements on Griffin’s consolidated balance sheet.  The estimated fair values are based primarily on projected future swap rates.
	Griffin applies cash flow hedge accounting to its interest rate swap agreements that are designated as hedges of the variability of future cash flows from floating rate liabilities based on the benchmark interest rates.  The change in fair values of Griffin’s interest rate swap agreements are recorded as components of accumulated other comprehensive income in stockholders’ equity to the extent they are effective.  Any ineffective portions of the change in fair value of these instruments would be recorded as interest expense.
	The results of operations for the three months ended August 31, 2014 (the “2014 third quarter”) and the nine months ended August 31, 2014 (the “2014 nine month period”) are not necessarily indicative of the results to be expected for the full year. The thirteen and thirty-nine weeks ended August 31, 2013 are referred to herein as the “2013 third quarter” and “2013 nine month period,” respectively.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers,” which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry specific guidance.  This standard requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers.  Additionally, the update requires improved disclosures to help users of financial statements better understand the nature, amount, timing and uncertainty of revenue that is recognized.  The update permits the use of either the retrospective or cumulative effect transition method.  This update will be effective for Griffin in fiscal 2018 and early adoption is not permitted.  Certain aspects of this new standard may affect revenue recognition of Griffin Land.  Griffin is evaluating the impact that the application of this update will have on its consolidated financial statements.
	In July 2013, the FASB issued Accounting Standards Update No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” which provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists.  Specifically, this update requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with certain exceptions.  This update was effective for Griffin in the 2014 second quarter.  The adoption of this guidance did not have an impact on Griffin’s financial position or results of operations.

Discontinued_Operation_Tables

Discontinued Operation (Tables)	9 Months Ended
	Aug. 31, 2014
Discontinued Operation	'
Schedule of revenue and pretax loss from Imperial's growing operations, reflected as a discontinued operation in entity's consolidated statements of operations	'
		For the Three Months Ended,						For the Nine Months Ended,
		August 31,			August 31,			August 31,		August 31,
		2014			2013			2014		2013
	Net sales and other revenue	$	79		$	2,727		$	159	$	11,667
	Pretax income (loss)	$	62		$	(627	)	$	306	$	(832	)
Schedule of pretax loss from the Imperial Sale	'
	The pretax loss from the Imperial Sale in the 2014 nine month period was as follows:
	Consideration received from Monrovia, reflecting cash of $732 and note receivable of $4,036	$	4,768
	Carrying value of assets sold, principally inventory	(4,561		)
	Curtailment of employee benefit plan (see Note 10)	309
	Severance and other expenses	(563		)
	Pretax loss	$	(47	)
Schedule of assets and liabilities of Imperial's growing operation, reflected as a discontinued operation	'
		August 31, 2014			November 30, 2013
	Assets:
	Accounts receivable	$	4		$	1,151
	Inventories	—			4,116
	Other	238			360
		$	242		$	5,627
	Liabilities:
	Accounts payable and accrued liabilities	$	44		$	768

Fair_Value_Tables

Fair Value (Tables)	9 Months Ended
	Aug. 31, 2014
Fair Value	'
Schedule of financial assets and liabilities carried at fair value and measured at fair value on a recurring basis:	'
		August 31, 2014
		Quoted Prices in			Significant			Significant
		Active Markets for			Observable			Unobservable
		Identical Assets			Inputs			Inputs
		(Level 1)			(Level 2)			(Level 3)
	Marketable equity securities	$	1,916		$	—		$	—
	Interest rate swap asset	$	—		$	44		$	—
	Interest rate swap liabilities	$	—		$	2,130		$	—
		November 30, 2013
		Quoted Prices in			Significant			Significant
		Active Markets for			Observable			Unobservable
		Identical Assets			Inputs			Inputs
		(Level 1)			(Level 2)			(Level 3)
	Marketable equity securities	$	2,208		$	—		$	—
	Interest rate swap asset	$	—		$	63		$	—
	Interest rate swap liabilities	$	—		$	2,285		$	—
Schedule of carrying and estimated fair values of financial instruments	'
		Fair Value		August 31, 2014						November 30, 2013
		Hierarchy		Carrying			Estimated			Carrying		Estimated
		Level		Value			Fair Value			Value		Fair Value
	Financial assets:
	Cash and cash equivalents	1		$	16,490		$	16,490		$	14,179	$	14,179
	Available-for-sale securities	1		1,916			1,916			2,208		2,208
	Interest rate swap	2		44			44			63		63
	Financial liabilities:
	Mortgage loans	2		70,673			71,024			66,708		67,931
	Interest rate swaps	2		2,130			2,130			2,285		2,285

Real_Estate_Assets_Tables

Real Estate Assets (Tables)	9 Months Ended
	Aug. 31, 2014
Real estate assets	'
Schedule of real estate assets	'
		Estimated		August 31, 2014			November 30, 2013
		Useful Lives
	Land			$	17,961		$	17,507
	Land improvements	10 to 30 years		18,422			15,529
	Buildings and improvements	10 to 40 years		135,739			122,057
	Tenant improvements	Shorter of useful life or terms of related lease		14,779			16,126
	Machinery and equipment	3 to 20 years		11,810			4,188
	Development costs			6,664			16,861
				205,375			192,268
	Accumulated depreciation			(73,272		)	(61,078		)
				$	132,103		$	131,190
Schedule of total depreciation expense and capitalized interest related to real estate assets, net	'
		For the Three Months Ended,						For the Nine Months Ended,
		August 31,			August 31,			August 31,		August 31,
		2014			2013			2014		2013
	Depreciation expense	$	1,459		$	1,388		$	4,257	$	4,136
	Capitalized interest	$	49		$	—		$	424	$	—
Held for Sale	'
Real estate assets	'
Schedule of real estate assets	'
		August 31, 2014			November 30, 2013
	Land	$	293		$	30
	Development costs	9,657			1,074
		$	9,950		$	1,104

Investments_Tables

Investments (Tables)	9 Months Ended
	Aug. 31, 2014
Investments	'
Schedule of cost, unrealized gain and fair value of Griffin's investment in Centaur Media	'
		August 31, 2014		November 30, 2013
	Fair value	$	1,916	$	2,208
	Cost	1,014		1,274
	Unrealized gain	$	902	$	934

Property_and_Equipment_Tables

Property and Equipment (Tables)	9 Months Ended
	Aug. 31, 2014
Property and Equipment	'
Schedule of property and equipment	'
		Estimated Useful	August 31, 2014			November 30, 2013
		Lives
	Land		$	—		$	437
	Land improvements	10 to 20 years	—			1,561
	Buildings and improvements	10 to 40 years	—			1,865
	Machinery and equipment	3 to 20 years	1,223			12,135
			1,223			15,998
	Accumulated depreciation		(988		)	(14,048		)
			$	235		$	1,950

Mortgage_Loans_Tables

Mortgage Loans (Tables)	9 Months Ended
	Aug. 31, 2014
Mortgage Loans	'
Schedule of mortgage loans	'
		August 31, 2014		November 30, 2013
	6.30%, due May 1, 2014	$	—	$	99
	5.73%, due August 1, 2015	18,298		18,615
	8.13%, due April 1, 2016	—		3,603
	7.0%, due October 2, 2017	—		5,779
	Variable rate mortgage, due October 2, 2017*	6,437		6,563
	Variable rate mortgage, due February 1, 2019*	10,955		11,150
	Variable rate mortgage, due August 1, 2019*	7,737		7,869
	Variable rate mortgage, due January 27, 2020*	3,876		3,961
	Variable rate mortgage, due September 1, 2023*	8,924		9,069
	5.09%, due July 1, 2029	7,838		—
	5.09%, due July 1, 2029	6,608		—
	Total nonrecourse mortgages	$	70,673	$	66,708

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	9 Months Ended
	Aug. 31, 2014
Stockholders' Equity	'
Schedule of basic and diluted per share results	'
		For the Three Months Ended,						For the Nine Months Ended,
		August 31,			August 31,			August 31,			August 31,
		2014			2013			2014			2013
	(Loss) income from continuing operations for computation of basic and diluted per share results, net of tax	$	(198	)	$	(490	)	$	(1,521	)	$	800
	Income (loss) from discontinued operations for computation of basic and diluted per share results, net of tax	26			(439		)	144			(531		)
	Net (loss) income	$	(172	)	$	(929	)	$	(1,377	)	$	269
	Weighted average shares outstanding for computation of basic per share results	5,150,000			5,146,000			5,148,000			5,143,000
	Incremental shares from assumed exercise of Griffin stock options (a)	—			—			—			7,000
	Adjusted weighted average shares for computation of diluted per share results	5,150,000			5,146,000			5,148,000			5,150,000
Schedule of options granted under 2009 Stock Option Plan to non-employee directors either upon their initial election or their reelection to Board of Directors	'
		For the Nine Months Ended,
		August 31, 2014					August 31, 2013
		Number of		Fair Value per			Number of		Fair Value per
		Shares		Option at Grant			Shares		Option at Grant
				Date					Date
	Non-employee directors	8,532		$	12.42		8,112		$	12.94
Schedule of assumptions used in determining fair values of each option	'
		For the Nine Months Ended,
		August 31, 2014		August 31, 2013
	Expected volatility	38.9	%	40.3	%
	Risk free interest rate	2.16	%	1.33	%
	Expected option term (in years)	8.5		8.5
	Annual dividend yield	0.7	%	0.7	%
Summary of the activity under the Griffin Stock Option Plan	'
		For the Nine Months Ended,
		August 31, 2014					August 31, 2013
		Number of		Weighted			Number of		Weighted
		Shares		Avg.			Shares		Avg.
				Exercise					Exercise
				Price					Price
	Outstanding at beginning of period	239,677		$	30.35		243,841		$	29.88
	Granted	8,532		$	28.12		8,112		$	29.58
	Exercised	(3,208	)	$	24.94		(6,776	)	$	11.81
	Forfeited	(23,000	)	$	30.27		(5,500	)	$	31.12
	Outstanding at end of period	222,001		$	30.35		239,677		$	30.35
Schedule of options by range of exercise prices	'
	Range of Exercise	Outstanding at		Weighted			Weighted Avg.		Total
	Prices	August 31, 2014		Avg. Exercise			Remaining		Intrinsic
				Price			Contractual Life		Value
							(in years)
	$23.00-$28.00	18,068		$	25.45		6.2		$	63
	$28.00-$32.00	120,858		$	28.90		6.4		$	26
	$32.00-$39.00	83,075		$	33.52		4.1		$	—
		222,001		$	30.35		5.5		$	89
Schedule of option holders	'
	Number of option holders at August 31, 2014	14
Schedule of compensation expense and related tax benefits for stock options	'
		For the Three Months Ended,						For the Nine Months Ended,
		August 31,			August 31,			August 31,			August 31,
		2014			2013			2014			2013
	Compensation expense - continuing operations	$	63		$	81		$	276		$	317
	Compensation expense - discontinued operations	—			10			(130		)	41
	Net compensation expense	$	63		$	91		$	146		$	358
	Related tax benefit - continuing operations	$	19		$	25		$	59		$	82
	Related tax benefit - discontinued operations	—			4			(15		)	4
	Net related tax benefit	$	19		$	29		$	44		$	86
Schedule of unrecognized compensation expense related to nonvested stock options that will be recognized during future periods	'
	As of August 31, 2014, the unrecognized compensation expense related to nonvested stock options that will be recognized during future periods is as follows:
	Balance of Fiscal 2014	$	63
	Fiscal 2015	$	153
	Fiscal 2016	$	33
Schedule of accumulated other comprehensive loss, net of tax	'
		Unrealized gain			Unrealized gain			Actuarial gain
		(loss) on cash			(loss) on investment			on postretirement
		flow hedges			in Centaur Media			benefits program			Total
	Balance November 30, 2013	$	(1,401	)	$	648		$	304		$	(449	)
	Other comprehensive (loss) income before reclassfications	(390		)	180			—			(210		)
	Amounts reclassified	475			(204		)	(304		)	(33		)
	Net activity for other comprehensive loss	85			(24		)	(304		)	(243		)
	Balance August 31, 2014	$	(1,316	)	$	624		$	—		$	(692	)
		Unrealized gain			Unrealized gain			Actuarial gain
		(loss) on cash			(loss) on investment			on postretirement
		flow hedges			in Centaur Media			benefits program			Total
	Balance December 1, 2012	$	(2,011	)	$	1,054		$	236		$	(721	)
	Other comprehensive income (loss) before reclassifications	624			(348		)	—			276
	Amounts reclassified	352			(332		)	—			20
	Net activity for other comprehensive loss	976			(680		)	—			296
	Balance August 31, 2013	$	(1,035	)	$	374		$	236		$	(425	)
Schedule of changes in accumulated other comprehensive income (loss)	'
		For the Three Months Ended,
		August 31, 2014												August 31, 2013
		Pre-Tax				Tax				Net-of-Tax				Pre-Tax				Tax				Net-of-Tax
						(Expense)												(Expense)
						Benefit												Benefit
	Reclassifications included in net (loss) income:
	Loss on cash flow hedges (interest expense)	$		252		$		(94	)	$		158		$		193		$		(71	)	$		122
	Total reclassifications included in net (loss) income	252				(94			)	158				193				(71			)	122
	Mark to market adjustment on Centaur Media for a (decrease) increase in the foreign currency exchange rate	(17			)	6				(11			)	49				(17			)	32
	Mark to market adjustment on Centaur Media for a (decrease) increase in fair value	(209			)	73				(136			)	450				(158			)	292
	(Decrease) increase in fair value adjustments on Griffin’s cash flow hedges	(93			)	35				(58			)	566				(209			)	357
	Total change in other comprehensive (loss) income	(319			)	114				(205			)	1,065				(384			)	681
	Other comprehensive (loss) income	$	(67		)	$	20			$	(47		)	$	1,258			$	(455		)	$	803
		For the Nine Months Ended,
		August 31, 2014									August 31, 2013
		Pre-Tax			Tax			Net-of-Tax			Pre-Tax			Tax			Net-of-Tax
					(Expense)									(Expense)
					Benefit									Benefit
	Reclassifications included in net (loss) income:
	Realized gain on sale of Centaur Media (gain on sale)	$	(321	)	$	117		$	(204	)	$	(509	)	$	177		$	(332	)
	Termination of postretirement benefits program ($283 net of tax to discontinued operations, $21 net of tax to general and administrative expense)	(485		)	181			(304		)	—			—			—
	Loss on cash flow hedges (interest expense)	755			(280		)	475			559			(207		)	352
	Total reclassifications included in net (loss) income	(51		)	18			(33		)	50			(30		)	20
	Mark to market adjustment on Centaur Media for an increase (decrease) in the foreign currency exchange rate	45			(16		)	29			(174		)	61			(113		)
	Mark to market adjustment on Centaur Media for an increase (decrease) in fair value	232			(81		)	151			(361		)	126			(235		)
	(Decrease) increase in fair value adjustments on Griffin’s cash flow hedges	(619		)	229			(390		)	990			(366		)	624
	Total change in other comprehensive (loss) income	(342		)	132			(210		)	455			(179		)	276
	Other comprehensive (loss) income	$	(393	)	$	150		$	(243	)	$	505		$	(209	)	$	296

Supplemental_Financial_Stateme1

Supplemental Financial Statement Information (Tables)	9 Months Ended
	Aug. 31, 2014
Supplemental Financial Statement Information	'
Schedule of interest payments	'
		For the Three Months Ended,				For the Nine Months Ended,
		August 31, 2014		August 31, 2013		August 31, 2014		August 31, 2013
		$	963	$	877	$	2,893	$	2,724

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Nov. 30, 2013
	item
Fiscal Year	'
Number of quarters in 13 weeks period	4
Length of period for 4 quarters	'91 days
Minimum	'
Fiscal Year	'
Length of fiscal year	'364 days
Maximum	'
Fiscal Year	'
Length of fiscal year	'371 days

Discontinued_Operation_Details

Discontinued Operation (Details) (USD $)	3 Months Ended			9 Months Ended			3 Months Ended		9 Months Ended	0 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2014	Feb. 28, 2014	Aug. 31, 2013	Aug. 31, 2014	Jan. 08, 2014	Nov. 30, 2013	Aug. 31, 2014	Nov. 30, 2013	Aug. 31, 2013	Jan. 08, 2014	Jan. 08, 2014
							Landscape nursery	Landscape nursery	Landscape nursery	Landscape nursery	Landscape nursery
										Inventory and certain assets	Connecticut production nursery
										item
Discontinued operation	'	'	'	'	'	'	'	'	'	'	'
Proceeds from sale of nursery inventory	'	'	'	'	'	'	'	'	'	$732	'
Non-interest bearing note receivable	'	'	'	'	'	'	'	'	'	4,250	'
Number of installments in which promissory note will become due	'	'	'	'	'	'	'	'	'	2	'
Amount of promissory note receivable due on June 1, 2014	'	'	'	'	'	'	'	'	'	2,750	'
Amount of promissory note receivable due on June 1, 2015	'	'	'	'	'	'	'	'	'	1,500	'
Discount rate (as a percent)	'	'	'	'	'	'	'	'	'	7.00%	'
Present value	'	4,036	'	'	'	'	'	'	'	4,036	'
Proceeds from Collection of Notes Receivable	2,750	'	'	2,750	'	'	'	'	'	'	'
Period of non-competition restrictions	'	'	'	'	'	'	'	'	'	'4 years	'
Lease period	'	'	'	'	'	'	'	'	'	'	'10 years
Optional extension period of lease	'	'	'	'	'	'	'	'	'	'	'15 years
Net annual rent receivable for each of the first five years	'	'	'	'	500	'	'	'	'	'	'
Period during which purchase option is available	'	'	'	'	'	'	'	'	'	'	'13 years
Price of land, land improvements and other operating assets under option to purchase	'	'	'	'	'	'	'	'	'	'	10,500
Price of a portion of land under option to purchase	'	'	'	'	'	'	'	'	'	'	7,000
Property and Equipment, gross	1,223	'	'	1,223	'	15,998	'	'	'	'	11,485
Accumulated depreciation	988	'	'	988	'	14,048	'	'	'	'	9,850
Revenue and the pretax loss	'	'	'	'	'	'	'	'	'	'	'
Net sales and other revenue	'	'	2,727	159	'	'	79	'	11,667	'	'
Pretax loss	'	'	-627	306	'	'	62	'	-832	'	'
Reclassification of actuarial gains related to entity's postretirement benefits program	'	'	'	451	'	'	'	'	'	'	'
Inventory charge included in cost of landscape nursery sales	'	'	'	'	'	'	'	10,400	'	'	'
Pretax loss from the sale of assets	'	'	'	'	'	'	'	'	'	'	'
Consideration received	'	'	'	4,768	'	'	'	'	'	'	'
Carrying value of assets sold, principally inventory	-4,561	'	'	-4,561	'	'	'	'	'	'	'
Curtailment of employee benefit plan	'	309	'	309	'	'	'	'	'	'	'
Severance and other expenses	'	'	'	-563	'	'	'	'	'	'	'
Pretax loss	'	'	'	-47	'	'	'	'	'	'	'
Cash	'	732	'	169	'	'	'	'	'	'	'
Note receivable	'	4,036	'	'	'	'	'	'	'	4,036	'
Assets:	'	'	'	'	'	'	'	'	'	'	'
Accounts receivable	4	'	'	4	'	1,151	'	'	'	'	'
Inventories	'	'	'	'	'	4,116	'	'	'	'	'
Other	238	'	'	238	'	360	'	'	'	'	'
Assets	242	'	'	242	'	5,627	'	'	'	'	'
Liabilities:	'	'	'	'	'	'	'	'	'	'	'
Accounts payable and accrued liabilities	$44	'	'	$44	'	$768	'	'	'	'	'

Fair_Value_Details

Fair Value (Details) (USD $)	Aug. 31, 2014	Nov. 30, 2013
In Thousands, unless otherwise specified
Financial assets and liabilities carried at fair value and measured at fair value on a recurring basis:	'	'
Interest rate swap asset	$44	'
Interest rate swap liabilities	2,130	'
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)	'	'
Financial assets and liabilities carried at fair value and measured at fair value on a recurring basis:	'	'
Marketable equity securities	1,916	2,208
Recurring basis | Significant Observable Inputs (Level 2)	'	'
Financial assets and liabilities carried at fair value and measured at fair value on a recurring basis:	'	'
Interest rate swap asset	44	63
Interest rate swap liabilities	$2,130	$2,285

Fair_Value_Details_2

Fair Value (Details 2) (USD $)	Aug. 31, 2014	Nov. 30, 2013
In Thousands, unless otherwise specified
Financial assets:	'	'
Interest rate swap	$44	'
Financial liabilities:	'	'
Interest rate swaps	2,130	'
Carrying Value | Quoted Prices in Active Markets for Identical Assets (Level 1)	'	'
Financial assets:	'	'
Cash and cash equivalents	16,490	14,179
Available-for-sale securities	1,916	2,208
Carrying Value | Significant Observable Inputs (Level 2)	'	'
Financial assets:	'	'
Interest rate swap	44	63
Financial liabilities:	'	'
Mortgage debt	70,673	66,708
Interest rate swaps	2,130	2,285
Estimated Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1)	'	'
Financial assets:	'	'
Cash and cash equivalents	16,490	14,179
Available-for-sale securities	1,916	2,208
Estimated Fair Value | Significant Observable Inputs (Level 2)	'	'
Financial assets:	'	'
Interest rate swap	44	63
Financial liabilities:	'	'
Mortgage debt	71,024	67,931
Interest rate swaps	$2,130	$2,285

Real_Estate_Assets_Details

Real Estate Assets (Details) (USD $)

1 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Aug. 31, 2014

Aug. 31, 2013

Aug. 31, 2014

Aug. 31, 2013

Nov. 30, 2013

Aug. 31, 2014

Jan. 08, 2014

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Feb. 28, 2014

Feb. 28, 2014

Aug. 31, 2014

Nov. 30, 2013

Feb. 28, 2014

Feb. 28, 2014

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Feb. 28, 2014

Feb. 28, 2014

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Landscape nursery

Landscape nursery

Held for Sale

Held for Sale

Land

Land

Land

Land

Land

Land

Land

Land improvements

Land improvements

Land improvements

Land improvements

Buildings and improvements

Buildings and improvements

Buildings and improvements

Buildings and improvements

Tenant improvements

Tenant improvements

Machinery and equipment

Machinery and equipment

Machinery and equipment

Machinery and equipment

Development costs

Development costs

Development costs

Development costs

Connecticut production nursery

Connecticut production nursery

Windsor undeveloped land sale

Windsor undeveloped land sale

Windsor undeveloped land sale

Held for Sale

Held for Sale

Minimum

Maximum

Minimum

Maximum

Minimum

Maximum

Held for Sale

Held for Sale

acre

Real estate assets

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated Useful Lives

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'10 years

'30 years

'

'

'10 years

'40 years

'

'

'

'

'3 years

'20 years

'

'

'

'

Real estate assets, gross

$205,375

'

$205,375

'

$192,268

'

'

$9,950

$1,104

$17,961

$17,507

'

'

'

$293

$30

$18,422

$15,529

'

'

$135,739

$122,057

'

'

$14,779

$16,126

$11,810

$4,188

'

'

$6,664

$16,861

$9,657

$1,074

Accumulated depreciation

-73,272

'

-73,272

'

-61,078

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Real estate assets, net

132,103

'

132,103

'

131,190

1,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Property and Equipment, gross

1,223

'

1,223

'

15,998

'

11,485

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accumulated depreciation

988

'

988

'

14,048

'

9,850

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Depreciation expense

1,459

1,388

4,257

4,136

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Capitalized interest

49

'

424

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Sales

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of acres sold

'

'

'

'

'

'

'

'

'

'

'

'

'

90

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Sale price

'

'

'

'

'

'

'

'

'

'

'

'

'

9,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of acres of undeveloped land

'

'

'

'

'

'

'

'

'

'

'

'

'

268

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from land sale deposited in escrow

'

'

'

'

8,860

'

'

'

'

'

'

'

'

8,860

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of cost incurred on sale of land

'

'

'

'

'

'

'

'

'

'

'

44.00%

44.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of total revenue and pretax gain on sale have been recognized

'

'

'

'

'

'

'

'

'

'

'

44.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Pretax gain on land sale

'

'

'

'

'

'

'

'

'

'

'

'

'

1,990

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Deferred revenue that will be recognized as the construction of roadways connecting the land with existing town roads

7,697

'

7,697

'

8,467

'

'

'

'

'

'

5,027

5,027

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated pretax gain on sale that would be recognized after incurring total costs and recognizing total revenue

'

'

'

'

'

'

'

'

'

'

'

'

$6,688

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investments_Details

Investments (Details) (USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Aug. 31, 2014	Aug. 31, 2013	Nov. 30, 2013
Investments	'	'	'
Shares of common stock held in Centaur Media	1,952,462	'	2,452,462
Shares of Centaur Media common stock sold	500,000	'	'
Proceeds from sale of shares	$566	$1,160	'
Pre-Tax Gain on sale of common stock in Centaur Media plc	318	504	'
Investment in Centaur Media	'	'	'
Fair value	1,916	'	2,208
Cost	1,014	'	1,274
Unrealized gain	$902	'	$934

Investments_Details_2

Investments (Details 2) (USD $)	9 Months Ended	0 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2013	Jan. 18, 2013	Dec. 01, 2012
		SNHC	SNHC
Investments	'	'	'
Equity interest in cost method investment (as a percent)	'	'	14.00%
Total cash proceeds from sale of investment	'	$3,418	'
Pre Tax Gain on sale of investment	3,397	3,397	'
Cash proceeds received at closing	$3,418	'	'

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)

9 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Aug. 31, 2014

Aug. 31, 2013

Nov. 30, 2013

Nov. 30, 2013

Nov. 30, 2013

Feb. 28, 2014

Feb. 28, 2014

Nov. 30, 2013

Feb. 28, 2014

Feb. 28, 2014

Aug. 31, 2014

Nov. 30, 2013

Feb. 28, 2014

Feb. 28, 2014

Jan. 08, 2014

Land

Land improvements

Land improvements

Land improvements

Buildings and improvements

Buildings and improvements

Buildings and improvements

Machinery and equipment

Machinery and equipment

Machinery and equipment

Machinery and equipment

Connecticut production nursery

Minimum

Maximum

Minimum

Maximum

Minimum

Maximum

Landscape nursery

Property and Equipment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated Useful Lives

'

'

'

'

'

'10 years

'20 years

'

'10 years

'40 years

'

'

'3 years

'20 years

'

Property and Equipment, gross

$1,223

'

$15,998

$437

$1,561

'

'

$1,865

'

'

$1,223

$12,135

'

'

$11,485

Accumulated depreciation

-988

'

-14,048

'

'

'

'

'

'

'

'

'

'

'

-9,850

Property and Equipment, net

235

'

1,950

'

'

'

'

'

'

'

'

'

'

'

1,635

Capital lease obligation incurred

$53

$48

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage_Loans_Details

Mortgage Loans (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

In Thousands, unless otherwise specified

Aug. 31, 2014

Aug. 31, 2014

Aug. 31, 2013

Nov. 30, 2013

Aug. 31, 2014

Aug. 31, 2013

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Jun. 06, 2014

Jun. 06, 2014

Jun. 05, 2014

Jun. 06, 2014

Aug. 31, 2014

Nov. 30, 2013

Jun. 06, 2014

Jun. 06, 2014

Jun. 05, 2014

Jun. 06, 2014

Jun. 06, 2014

Jun. 06, 2014

Aug. 31, 2014

Aug. 31, 2014

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Nov. 30, 2013

Aug. 31, 2014

Jun. 06, 2014

Interest rate swap agreement

Interest rate swap agreement

Nonrecourse mortgages

Nonrecourse mortgages

6.30%, due May 1, 2014

6.30%, due May 1, 2014

5.73%, due August 1, 2015

5.73%, due August 1, 2015

8.13%, due April 1, 2016

8.13%, due April 1, 2016

8.13%, due April 1, 2016

8.13%, due April 1, 2016

8.13%, due April 1, 2016

8.13%, due April 1, 2016

7.0%, due October 2, 2017

7.0%, due October 2, 2017

7.0%, due October 2, 2017

7.0%, due October 2, 2017

7.0%, due October 2, 2017

7.0%, due October 2, 2017

7.0%, due October 2, 2017

7.0%, due October 2, 2017

5.09%, due July 1, 2029 GCD Mortgage Loan member

5.09%, due July 1, 2029 TD mortgage loan member

Variable rate mortgage, due October 2, 2017

Variable rate mortgage, due October 2, 2017

Variable rate mortgage, due February 1, 2019

Variable rate mortgage, due February 1, 2019

Variable rate mortgage, due August 1, 2019

Variable rate mortgage, due August 1, 2019

Variable rate mortgage, due January 27, 2020

Variable rate mortgage, due January 27, 2020

Variable rate mortgage, due September 1, 2023

Variable rate mortgage, due September 1, 2023

8.13% mortgage due April 1, 2016 and 7.0% mortgage due October 2, 2017

8.13% mortgage due April 1, 2016 and 7.0% mortgage due October 2, 2017

item

Griffin Center Development ILLC [Member]

Griffin Center Development ILLC [Member]

Griffin Center Development ILLC [Member]

Griffin Center Development ILLC [Member]

Tradeport Development ILLC [Member]

Tradeport Development ILLC [Member]

Tradeport Development ILLC [Member]

Tradeport Development ILLC [Member]

Tradeport Development ILLC [Member]

Tradeport Development ILLC [Member]

loan

Tradeport Development ILLC [Member]

Windsor Connecticut Flex Building

Windsor Connecticut First Industrial Building

Windsor Connecticut Second Industrial Building

Windsor Connecticut Second Industrial Building

sqft

sqft

sqft

Long-Term Debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate (as a percent)

'

'

'

'

'

'

'

'

6.30%

'

5.73%

'

8.13%

'

'

5.09%

8.13%

'

7.00%

'

'

5.09%

7.00%

'

'

'

5.09%

5.09%

'

'

'

'

'

'

'

'

'

'

'

'

Total nonrecourse mortgages

($70,673)

($70,673)

'

($66,708)

'

'

$70,673

$66,708

'

$99

$18,298

$18,615

'

$3,603

'

$7,868

$3,391

'

'

$5,779

'

$6,632

$5,632

'

'

'

$7,838

$6,608

$6,437

$6,563

$10,955

$11,150

$7,737

$7,869

$3,876

$3,961

$8,924

$9,069

'

'

Debt disclosures

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ineffectiveness on cash flow hedges

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Anticipated ineffectiveness on cash flow hedges

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of agreements containing credit risk related contingent features

'

'

'

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Recognized net gains (losses) (included in other comprehensive loss), before taxes, on interest rate swap agreements

'

'

'

'

619

990

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loss expected to be reclassified over next twelve months from accumulated other comprehensive loss to interest expense

'

'

'

'

989

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net fair values of interest rate swap agreements included in other assets and liabilities

2,086

2,086

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net fair values of interest rate swap agreements included in other assets

44

44

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net fair values of interest rate swap agreements included in other liabilities

2,130

2,130

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Area of collateralized properties (in square feet)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

165,000

'

'

'

'

'

100,000

'

57,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Term of debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'15 years

'

'

'

'

'

'15 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total nonrecourse mortgages

-70,673

-70,673

'

-66,708

'

'

70,673

66,708

'

99

18,298

18,615

'

3,603

'

7,868

3,391

'

'

5,779

'

6,632

5,632

'

'

'

7,838

6,608

6,437

6,563

10,955

11,150

7,737

7,869

3,876

3,961

8,924

9,069

'

'

Interest rate (as a percent)

'

'

'

'

'

'

'

'

6.30%

'

5.73%

'

8.13%

'

'

5.09%

8.13%

'

7.00%

'

'

5.09%

7.00%

'

'

'

5.09%

5.09%

'

'

'

'

'

'

'

'

'

'

'

'

Amortization period of debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'15 years

'

'

'

'

'

'15 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum period from lease expiration date for releasing escrowed funds if mortgaged property is re-leased

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Lease Expiration Date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31-Aug-14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of years before any prepayments can be made

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'7 years

Number of mortgages refinanced with Farm Bureau

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

Loss on debt extinguishment

-51

-51

-286

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

51

'

Amount held in escrow

1,000

1,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount paid for the loan modification

'

'

$70

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revolving_Credit_Agreement_Det

Revolving Credit Agreement (Details) (Webster Credit Line, USD $)	9 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2014	Apr. 24, 2013	Apr. 24, 2013
		Griffin Center South, Bloomfield, CT	Single-story office building in Griffin Center
		sqft	sqft
Revolving credit agreement	'	'	'
Maximum borrowing capacity	$12,500	'	'
Variable interest rate base	'one month LIBOR	'	'
Variable interest rate margin (as a percent)	2.75%	'	'
Area, square feet	'	235,000	48,000
Borrowings under credit line	$0	'	'

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, except Share data, unless otherwise specified	Aug. 31, 2014	Feb. 28, 2014	Aug. 31, 2013	Aug. 31, 2014	Aug. 31, 2013
Per Share Results	'	'	'	'	'
(Loss) income from continuing operations for computation of basic and diluted per share results, net of tax	($198)	'	($490)	($1,521)	$800
Loss from discontinued operations for computation of basic and diluted per share results, net of tax	26	'	-439	144	-531
Net (loss) income	($172)	'	($929)	($1,377)	$269
Weighted average shares outstanding for computation of basic per share results	5,150,000	'	5,146,000	5,148,000	5,143,000
Incremental shares from assumed exercise of Griffin stock options	'	'	'	'	7,000
Adjusted weighted average shares for computation of diluted per share results	5,150,000	'	5,146,000	5,148,000	5,150,000
Incremental shares from assumed exercise of stock options excluded due to anti-dilutive effect	3,000	10,000	'	12,000	'

Stockholders_Equity_Details_2

Stockholders' Equity (Details 2) (2009 Stock Option Plan, USD $)	0 Months Ended	9 Months Ended
	Dec. 01, 2013	Aug. 31, 2014	Aug. 31, 2013
Griffin Stock Option Plan	'	'	'
Granted (in shares)	239,677	8,532	8,112
Activity under the Griffin Stock Option Plan	'	'	'
Outstanding at beginning of period (in shares)	'	'	243,841
Granted (in shares)	239,677	8,532	8,112
Exercised (in shares)	'	-3,208	-6,776
Forfeited (in shares)	'	-23,000	-5,500
Outstanding at end of period (in shares)	'	222,001	239,677
Weighted Avg. Exercise Price	'	'	'
Outstanding at beginning of period (in dollars per share)	$30.35	$30.35	$29.88
Granted (in dollars per share)	'	$28.12	$29.58
Exercised (in dollars per share)	'	$24.94	$11.81
Forfeited (in dollars per share)	'	$30.27	$31.12
Outstanding at end of period (in dollars per share)	'	$30.35	$30.35
Assumptions used in determining the fair value of the stock options granted	'	'	'
Expected volatility (as a percent)	'	38.90%	40.30%
Risk free interest rate (as a percent)	'	2.16%	1.33%
Expected option term (in years)	'	'8 years 6 months	'8 years 6 months
Annual dividend yield	'	0.70%	0.70%
Non-employee directors	'	'	'
Griffin Stock Option Plan	'	'	'
Granted (in shares)	'	8,532	8,112
Fair values of stock options granted (in dollars per share)	'	$12.42	$12.94
Activity under the Griffin Stock Option Plan	'	'	'
Granted (in shares)	'	8,532	8,112
Employee and directors' stock options	'	'	'
Griffin Stock Option Plan	'	'	'
Expiration term	'	'10 years	'

Stockholders_Equity_Details_3

Stockholders' Equity (Details 3) (USD $)	0 Months Ended	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Aug. 31, 2014	Aug. 31, 2014
2009 Stock Option Plan	'	'
Griffin Stock Option Plan	'	'
Weighted Avg. Remaining Contractual Life	'5 years 6 months	'
$23.00-$28.00	'	'
Griffin Stock Option Plan	'	'
Exercise prices, low end of range (in dollars per share)	'	$23
Exercise prices, high end of range (in dollars per share)	'	$28
Outstanding at ending of the year (in shares)	18,068	18,068
Weighted Avg. Exercise Price (in dollars per share)	$25.45	$25.45
Weighted Avg. Remaining Contractual Life	'6 years 2 months 12 days	'
Total Intrinsic Value	$63	$63
$28.00-$32.00	'	'
Griffin Stock Option Plan	'	'
Exercise prices, low end of range (in dollars per share)	'	$28
Exercise prices, high end of range (in dollars per share)	'	$32
Outstanding at ending of the year (in shares)	120,858	120,858
Weighted Avg. Exercise Price (in dollars per share)	$28.90	$28.90
Weighted Avg. Remaining Contractual Life	'6 years 4 months 24 days	'
Total Intrinsic Value	$26	$26
$32.00-$39.00	'	'
Griffin Stock Option Plan	'	'
Exercise prices, low end of range (in dollars per share)	'	$32
Exercise prices, high end of range (in dollars per share)	'	$39
Outstanding at ending of the year (in shares)	83,075	83,075
Weighted Avg. Exercise Price (in dollars per share)	$33.52	$33.52
Weighted Avg. Remaining Contractual Life	'4 years 1 month 6 days	'

Stockholders_Equity_Details_4

Stockholders' Equity (Details 4) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014	Aug. 31, 2013
Employee and directors' stock options	'	'	'	'
Griffin Stock Option Plan	'	'	'	'
Number of option holders	14	'	14	'
2009 Stock Option Plan | Continuing Operations [Member]	'	'	'	'
Compensation expense for stock options	'	'	'	'
Related tax benefit	$19	$25	$59	$82
2009 Stock Option Plan | Discontinued Operations [Member]	'	'	'	'
Compensation expense for stock options	'	'	'	'
Related tax benefit	'	4	-15	4
2009 Stock Option Plan | Employee and directors' stock options	'	'	'	'
Compensation expense for stock options	'	'	'	'
Compensation expense	63	91	146	358
Related tax benefit	19	29	44	86
2009 Stock Option Plan | Employee and directors' stock options | Continuing Operations [Member]	'	'	'	'
Compensation expense for stock options	'	'	'	'
Compensation expense	63	81	276	317
2009 Stock Option Plan | Employee and directors' stock options | Discontinued Operations [Member]	'	'	'	'
Compensation expense for stock options	'	'	'	'
Compensation expense	'	$10	($130)	$41

Stockholders_Equity_Details_5

Stockholders' Equity (Details 5) (Nonvested Options, USD $)	Aug. 31, 2014
In Thousands, unless otherwise specified
Nonvested Options	'
Unrecognized compensation expense related to non-vested stock options that will be recognized during future periods	'
Balance of Fiscal 2014	$63
Fiscal 2015	153
Fiscal 2016	$33

Stockholders_Equity_Details_6

Stockholders' Equity (Details 6) (USD $)

3 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Aug. 31, 2014

Feb. 28, 2014

Aug. 31, 2013

Mar. 02, 2013

Aug. 31, 2014

Aug. 31, 2013

Aug. 31, 2013

Aug. 31, 2014

Aug. 31, 2013

Aug. 31, 2014

Aug. 31, 2013

Aug. 31, 2014

Aug. 31, 2013

Dec. 01, 2012

Unrealized gain (loss) on cash flow hedges

Unrealized gain (loss) on cash flow hedges

Unrealized gain (loss) on investment in Centaur Media

Unrealized gain (loss) on investment in Centaur Media

Actuarial gain on postretirement benefit plan

Actuarial gain on postretirement benefit plan

Actuarial gain on postretirement benefit plan

Change in accumulated other comprehensive loss, net of tax

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance at the beginning of the period

'

($449)

'

($721)

($449)

($721)

($721)

($1,401)

($2,011)

$648

$1,054

$304

$236

$236

Other comprehensive income (loss) before reclassifications

'

'

'

'

-210

'

276

-390

624

180

-348

'

'

'

Amounts reclassified

158

'

122

'

-33

20

20

475

352

-204

-332

-304

'

'

Total other comprehensive income (loss), net of tax

'

'

'

'

-243

296

296

85

976

-24

-680

-304

'

'

Balance at the end of the period

-692

'

-425

'

-692

-425

-425

-1,316

-1,035

624

374

'

236

236

Reclassifications included in net income (loss):

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Realized gain on sale of Centaur Media (gain on sale)

'

'

'

'

-321

-509

'

'

'

'

'

'

'

'

Termination of postretirement benefits program

'

'

'

'

-485

'

'

'

'

'

'

'

'

'

Loss on cash flow hedges (interest expense)

252

'

193

'

755

559

'

'

'

'

'

'

'

'

Total reclassifications included in net income (loss)

252

'

193

'

-51

50

'

'

'

'

'

'

'

'

Mark to market adjustment on Centaur Media for an increase (decrease) in the foreign currency exchange rate

-17

'

49

'

45

-174

'

'

'

'

'

'

'

'

Mark to market adjustment on Centaur Media for an increase in fair value

-209

'

450

'

232

-361

'

'

'

'

'

'

'

'

(Decrease) increase in fair value adjustment on Griffin's cash flow hedges

-93

'

566

'

-619

990

'

'

'

'

'

'

'

'

Total change in other comprehensive income (loss)

-319

'

1,065

'

-342

455

'

'

'

'

'

'

'

'

Other comprehensive income (loss)

-67

'

1,258

'

-393

505

'

'

'

'

'

'

'

'

Reclassifications included in net income (loss):

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Realized gain on sale of Centaur Media (gain on sale)

'

'

'

'

117

177

'

'

'

'

'

'

'

'

Termination of postretirement benefits program tax

'

'

'

'

181

'

'

'

'

'

'

'

'

'

Loss on cash flow hedges (interest expense)

-94

'

-71

'

-280

-207

'

'

'

'

'

'

'

'

Total reclassifications included in net income (loss)

-94

'

-71

'

18

-30

'

'

'

'

'

'

'

'

Mark to market adjustment on Centaur Media for an increase (decrease) in the foreign currency exchange rate

6

'

-17

'

-16

61

'

'

'

'

'

'

'

'

Mark to market adjustment on Centaur Media for an increase in fair value

73

'

-158

'

-81

126

'

'

'

'

'

'

'

'

(Decrease) increase in fair value adjustments on Griffin's cash flow hedges

35

'

-209

'

229

-366

'

'

'

'

'

'

'

'

Total change in other comprehensive income (loss)

114

'

-384

'

132

-179

'

'

'

'

'

'

'

'

Other comprehensive income (loss)

20

'

-455

'

150

-209

'

'

'

'

'

'

'

'

Reclassifications included in net income (loss):

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Realized gain on sale of Centaur Media (gain on sale)

'

'

'

'

-204

-332

'

'

'

'

'

'

'

'

Termination of postretirement benefits program net of tax

'

'

'

'

-304

'

'

'

'

'

'

'

'

'

Loss on cash flow hedges (interest expense)

158

'

122

'

475

352

'

'

'

'

'

'

'

'

Total reclassifications included in net income (loss)

158

'

122

'

-33

20

20

475

352

-204

-332

-304

'

'

Mark to market adjustment on Centaur Media for an increase (decrease) in the foreign currency exchange rate

-11

'

32

'

29

-113

'

'

'

'

'

'

'

'

Mark to market adjustment on Centaur Media for an increase in fair value

-136

'

292

'

151

-235

'

'

'

'

'

'

'

'

(Decrease) increase in fair value adjustments on Griffin's cash flow hedges

-58

'

357

'

-390

624

'

'

'

'

'

'

'

'

Total change in other comprehensive income (loss)

-205

'

681

'

-210

276

'

'

'

'

'

'

'

'

Total other comprehensive income (loss), net of tax

-47

'

803

'

-243

296

'

'

'

'

'

'

'

'

Cash Dividend

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash dividend paid

'

$1,029

'

$1,028

$1,029

$1,028

'

'

'

'

'

'

'

'

Supplemental_Financial_Stateme2

Supplemental Financial Statement Information (Details) (USD $)	Aug. 31, 2014	Nov. 30, 2013
In Thousands, unless otherwise specified
Real estate assets	'	'
Deferred revenue	$7,697	$8,467
Land | Windsor undeveloped land sale	'	'
Real estate assets	'	'
Deferred revenue	$5,027	'

Supplemental_Financial_Stateme3

Supplemental Financial Statement Information (Details 2) (USD $)	3 Months Ended			9 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Aug. 31, 2014	Feb. 28, 2014	Aug. 31, 2013	Aug. 31, 2014	Aug. 31, 2013	Nov. 30, 2013
Supplemental Cash Flow Information	'	'	'	'	'	'
Increase (decrease) in value of available-for-sale securities: Investment in Centaur Media Plc	'	'	'	$277	($535)	'
Shares of Centaur Media common stock sold	500,000	'	'	500,000	'	'
Additions to real estate assets included in accounts payable and accrued liabilities	'	'	'	833	'	813
Increase (decrease) in accounts payable and accrued liabilities related to additions to real estate assets	'	'	'	20	-771	'
Interest paid	'	'	'	'	'	'
Interest payments	963	'	877	2,893	2,724	'
Liability for postretirement benefit	'	63	'	'	'	372
Curtailment gain included in the determination of the loss on the Imperial Sale	'	309	'	309	'	'
Income Taxes	'	'	'	'	'	'
Effective income tax rate (as a percent)	'	'	'	39.50%	36.30%	'
Net deferred tax asset	7,003	'	'	7,003	'	5,975
New York state income tax examinations resulting in additional expense	$4	'	'	'	'	'

Supplemental_Financial_Stateme4

Supplemental Financial Statement Information (Details 3) (USD $)	Feb. 28, 2014	Jan. 08, 2014
In Thousands, unless otherwise specified		Landscape nursery
		Inventory and certain assets
		item
Discontinued operation	'	'
Proceeds from sale of nursery inventory	'	$732
Non-interest bearing note receivable	'	4,250
Number of installments in which promissory note will become due	'	2
Amount of promissory note receivable due on June 1, 2014	'	2,750
Amount of promissory note receivable due on June 1, 2015	'	1,500
Discount rate (as a percent)	'	7.00%
Present value	$4,036	$4,036

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (Property and inventory purchase commitments, USD $)	Aug. 31, 2014
In Thousands, unless otherwise specified
Property and inventory purchase commitments	'
Commitments and Contingencies	'
Purchase obligations	$2,456