"Normandy has it," insists one source. "Yes they are" thewinning bidder, another source seconds. Calls to both Normandy attheir New Jersey headquarters and 4 Van de Graaf Dr.'s brokers atJones Lang LaSalle's Capital Markets Group in Boston were notreturned by deadline.

Easily eclipsing normal levels for trades on the northern tierof Route 128, the ardor is not simply a reflection of the maniccapital market. According to those familiar with the building'sfinancials, the prize lies in a long-term commitment from BAESystems, a technology firm that leased 4 Van de Graaf Dr. in 2001just as the then-speculative project was coming online. The cost ofbringing the work force together from nearby Maynard and Cambridgewas a deal that has reportedly escalated to $48 per sf.

Having signed their pact at the market apex, BAE Systemssubsequently subleased much of the property at a deep discount, butremains responsible for a term estimated at four to five years.Current market rents in Burlington run in the $20-per-sf rangeafter a difficult reaction to the technology downturn, and brokerssay even the recovering economy is unlikely to be so resurgent asto reach the rates already achieved at 4 Van de Graaf Dr.