Thomas Vetter and Jeff DeMagistris of NAI James E. Hanson, Inc.represented Coining in the lease. "Coining's commitment is highlysignificant for New Jersey--our state has lost a large number ofmanufacturing jobs in recent years," says Cushman & Wakefield'sRobert Rudin, who represented landlord the Hampshire Cos. inorchestrating the long-term lease with team members Matthew Seltzerand Dan Johnsen.

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Founded in 1965 and currently headquartered in Saddle Brook,Coining has experienced steady organic growth through the yearsand, in early 2009, acquired Semiconductor Packaging Materials, acompetitor based in Armonk, NY. "In a perfect world, we wanted todraw a straight line between Saddle Brook and Armonk, and find apoint in the center for our relocation," Gary Holcomb, Coining'sCEO tells GlobeSt.com. "The building at 15 Mercedes fit everythingwe wanted. It seemed too good to be true."

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The Hampshire Cos. purchased the property as a vacantoffice/laboratory building in 2006 with the intent to aggressivelyreposition it as a class A, high-tech property. On spec, thecompany stripped the structure down to the steel and rebuilt itwith a new façade and curtain wall, white TPO roofing,high-performance E Glass and an energy-efficient HVAC system. Rudincredits the owner's foresight as critical in the successfullease-up of 15 Mercedes Drive. "Hampshire spent the time and themoney to buy this building with no tenant in hand and retrofit iton spec – all because they read the market correctly," he tellsGlobeSt.com.

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Coining expects to occupy the asset in late summer 2010.Approximately 120 employees will relocate to the new headquartersand manufacturing facility, including 50 professionals thatcurrently work in Armonk. Other local tenants include BMW,Mercedes-Benz North America, Sony and Hertz.

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