"That's the word on the street," says one Boston real estate broker familiar with the deal. The source, who requested anonymity, insists that Tribeca has the property tied up. Insignia/ESG of Boston is said to be leasing broker.

Calls to broker William Brodsky at Insignia/ESG's New York office were not returned. Citing a confidentiality agreement, Necco spokesman Stan Byerly declined comment, except to acknowledge that the 500,000-sf property is on the market. "It will all probably be known in the next couple of weeks, but right now we can't say anything about it," says Byerly.

Jeanne Strain of the Cambridge Business Development Center says it is well known that Necco has been trying to sell its plant, but adds she has not heard of Tribeca's plans. With the building's prominent locations on one of the city's main thoroughfares, Strain says the developers may have difficulty pushing their project, given that data centers typically do not attract a lot of vitality. Such a use would probably have to be accentuated with a retail presence on the first floor, Strain says, or perhaps some residential units.