Cisco currently leases over 700,000 sf of space in this town and in Lowell. The San Francisco, California-based networking giant is in the process of developing a campus in Boxborough and according to Mojgan Khalili, a spokesperson for the company, the company is starting to put some of its space on the market as "part of our consolidation efforts" to move to the new campus.

The campus was the subject of much speculation because Cisco put the project on hold last year but Khalili says the company is now building three buildings for a total of 450,000 sf of space and has permits to build another 450,000 sf on the site.

"Everyone knew this was going to happen," stresses John Wilson, a partner at Richards, Barry & Joyce who specializes in the Route 495/North market, referring to the space the company put on the market. "Now its official. It just confirms that this is a tenant's market." Cisco put a 144,000-sf building at 250 Apollo Drive and a 304,000-sf building at 300 Apollo Drive up for rent. Recently, Cisco put a 130,000-sf space at Crosspoint in Lowell on the market, says Wilson, who notes that the company put a 55,000-sf space at 41 Wellman St. in Lowell on the market 15 months ago.