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.

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