RIVERSIDE, CA—Colliers International hasnegotiated a long-term lease agreement valued at approximately $5million for Intelligent Global Pooling Systems(iGPS), operator of the world's first pallet rental servicefeaturing lightweight, 100% recyclable plastic pallets withembedded radio frequency identification (RFID)technology. The company will occupy a full building atMajestic Business Center in Riverside, companyofficials say.
The lease for 14855 Innovation Drive, totalingsome 225,000 square feet, has a term of fiveyears, according to Colliers' executive vice presidentScott Heaton, who represented iGPS in theRiverside transaction. Heaton, who is based in the brokerage firm'sCommerce, CA office coordinated the transactionwith Colliers SVP Robert Bodgero and associatevice president Steven Bodgero of the firm'sDetroit office. Majestic represented itself.
Headquartered in Orlando, FL, iGPS haswarehousing, storage and distribution centers strategically locatedthroughout the nation. Embedding the radio frequencyidentification scan labels in its pallets plays a key rolein 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.
