Genesis formed a joint venture with Silver Creek Properties to develop a retail project in Inglewood, CA. The project contains 35,592 square feet of retail space, of which 14,000 square feet is located in one multi-tenant building and 7,000 in another. There are four pad sites comprising the balance of the square footage. The property is located in a moderate income census tract and is situated as an out-parcel of a brand new Costco store. Due to the high visibility location and close proximity to several big-box tenants (Costco, Home Depot, Staples, and Target), the sponsor is experiencing strong pre-leasing activity from national, regional, and local tenants. Tenants include Wendy's, Del Taco, El Pollo Campero, Washington Mutual, Cingular Wireless, and The Gas Company. A sale of this property was completed in August 2005.