H&M, which will use the building for warehousing and distribution purposes, is actually moving the operation from one Meadowlands submarket location to another. The company currently operates out of a smaller building in nearby Secaucus, NJ.

The San Francisco-based AMB Property Corp. owns the building, which is brand new. AMB was represented in the transaction by Binswanger/Klatskin of Teterboro, NJ, with the firm's executive vice presidents David E. Knee and Robert C. Kossar, and vice president Chris T. Hile doing the honors. The terms of the transaction were not disclosed.

"The facility met H&M's specific requirements, including its layout, its size and its location," Knee says.

The building's specs include 27.5-ft ceiling heights, 240 parking space and 20 tailgates, according to Knee. It also has close proximity to Manhattan and North and Central New Jersey, where the chain has a number of stores.

The signing, for Binswanger/Klatskin, comes on the heels of a year in which the firm closed more than seven million sf of industrial deals. Besides AMB, companies involved in the various transactions included Jones Apparel, Rand Direct, Adjmi Apparel, Waterford Wedgwood, Electrolux and ITW.

For its part, AMB Property Corp. owns a total of more than seven million sf of industrial space in the Garden State, with most of that in the Meadowlands submarket.