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

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

The Hampshire Cos. purchased the property as a vacant office/laboratory building in 2006 with the intent to aggressively reposition it as a class A, high-tech property. On spec, the company stripped the structure down to the steel and rebuilt it with a new façade and curtain wall, white TPO roofing, high-performance E Glass and an energy-efficient HVAC system. Rudin credits the owner's foresight as critical in the successful lease-up of 15 Mercedes Drive. "Hampshire spent the time and the money to buy this building with no tenant in hand and retrofit it on spec – all because they read the market correctly," he tells GlobeSt.com.