Arden Group, Inc. (Arden) is a holding company, which conducts operations through its wholly owned subsidiary, Arden-Mayfair, Inc. (Arden-Mayfair) and Arden-Mayfair�s wholly owned subsidiary, Gelson�s Markets (Gelson�s), which operates supermarkets in Southern California. The Company also owns certain real estate properties through a subsidiary, Mayfair Realty, Inc. (Mayfair Realty), which is wholly owned by the Company and Arden-Mayfair. As of December 31, 2011, Gelson�s operated 18 full-service supermarkets in Southern California, which carry both perishable and dry grocery products. Gelson�s also operates a distribution center in the City of Commerce, California. The Company�s Gelson�s store in Northridge, California was closed on February 25, 2012.