Nestle won naming rights in the whirlwind deal for the 29-storyBKB Building at Avenida Dr. Chucri Zaidan 246 in the MarginalPinheiros submarket. A Hines spokesman has confirmed the lease termfor GlobeSt.com.

The spokesman says the asset's been dark since July 2007, afallout from Banco Itaú's 2006 takeover of BankBoston, whichdeveloped it and had been the only occupant since its completion inApril 2002. Hines CalPERS Brazil II Fund acquired the building onemonth before it was emptied, putting teams from Jones Lang LaSalleand Cushman & Wakefield Inc. into the driver's seat to find abackfill.

Nestle will move 2,000 employees from a 301,389-sf headquartersbuilding [28,000 m2] just three blocks away and consolidate severalother leased locations before this quarter ends. When all is saidand done, Nestle will still have room to expand.