Genesis formed a joint venture with Seventh Street Development to develop a 108,000 square foot speculative industrial building on lots 12A and 12C of the Agua Mansa Industrial Center in Riverside, CA. The Site is included within a Federal Enterprise Zone and is strategically located between the San Bernardino (I-10), Pomona (CA-60) and Riverside (I-215) freeways. Riverside and San Bernardino counties combine to form the Inland Empire, the fastest growing MSA (Metropolitan Statistical Area) in the nation and also one of its premier industrial and distribution hubs. In October 2005 this property was sold to a buyer who will use the space for warehousing and/or manufacturing space.