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HACKENSACK, N.J, DECEMBER 9, 2009 -NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, is pleased to announce the recent completion of a long-term 60,000-square-foot industrial/flex lease transaction at Montvale Campus Parkway I, which is located at 15 Mercedes Drive in Montvale, New Jersey. NAI Hanson's Associate Vice Presidents, Tom Vetter and Jeff DeMagistris, represented the tenant, Coining Inc., in this transaction, while Cushman & Wakefield represented the landlord, Hampshire Companies. "Coining Inc. first engaged our services two years ago when the company began its search for a new and larger headquarters from its existing 30,000-square-foot location in Saddle Brook, New Jersey," remarked Vetter. "In January of 2009, Coining acquired one of its competitors, which was headquartered in Armonk, New York, and nearly doubled its workforce. This expansion not only altered its initial space requirements, but also changed the location of its newly combined headquarter facility, which now had to be located between Saddle Brook and Armonk in order to ensure that its employees were retained. Using our extensive knowledge of the local market, we were able to identify this facility as being a perfect fit to meet all of Coining's evolving needs." Built in 1976, Montvale Parkway Campus I is located at 15 Mercedes Drive in Bergen County, which is situated within close proximity to the area's main thoroughfares for the manufacturing and distribution of goods. The single-story, 60,000-square-foot industrial/flex facility is near the Garden State Parkway and recently underwent a major renovation. The property, which will be 100 percent occupied by Coining Inc., will be further renovated to suit the company's manufacturing needs and is slated for completion in the second or third quarter of 2010. "At NAI Hanson, we believe in the importance of building strong, long-lasting relationships with clients in order to help navigate them through the challenges that arise when completing commercial real estate transactions, particularly in the Northern New Jersey industrial market," stated DeMagistris. "This transaction is a perfect example of our firm's ability to work with clients in order to satisfy their every need, regardless of what those needs may be. Ultimately, we are thrilled to have been able to find a location that allows Coining to continue to expand their operation and we look forward to working with them as they continue to grow in the future." Commenting on the transaction, Gary Holcomb, Coining's CEO, stated, "With this relocation, we plan on utilizing this space as our new headquarters and manufacturing plant in the Northeast, after completing a facilities upgrade program that also includes new modern buildings for housing our manufacturing operations in Penang, Malaysia and Casablanca, Morocco. It was a great pleasure working with such an experienced and knowledgeable team of brokers like Tom and Jeff at NAI Hanson and we look forward to working with them in the future." About NAI James E. Hanson Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise. NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 325 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company's Hackensack office at 201-488-5800 or visit http://www.naihanson.com/.
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