RIVERSIDE, CA—Colliers International has negotiated a long-term lease agreement valued at approximately $5 million for Intelligent Global Pooling Systems (iGPS), operator of the world's first pallet rental service featuring lightweight, 100% recyclable plastic pallets with embedded radio frequency identification (RFID) technology. The company will occupy a full building at Majestic Business Center in Riverside, company officials say.
The lease for 14855 Innovation Drive, totaling some 225,000 square feet, has a term of five years, according to Colliers' executive vice president Scott Heaton, who represented iGPS in the Riverside transaction. Heaton, who is based in the brokerage firm's Commerce, CA office coordinated the transaction with Colliers SVP Robert Bodgero and associate vice president Steven Bodgero of the firm's Detroit office. Majestic represented itself.
Headquartered in Orlando, FL, iGPS has warehousing, storage and distribution centers strategically located throughout the nation. Embedding the radio frequency identification scan labels in its pallets plays a key role in its clients' supply chain management systems.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
