"I hear it is under agreement," says the source. The Quarry Industrial Park is located along the Bellingham line and is near a building previously occupied by Data General. EMC's recent acquisition of Data General is one reason for the firm heading into the Milford market, says the source, although observers also say the migration is needed because EMC is running out of space in its hometown of Hopkinton.

"It's an excellent location," adds the source, noting there is quick access to Route 495 and the Massachusetts Turnpike. The ability to develop such a large block of space is also harder to the north, says the source, with several well-heeled technology players competing for any available land or buildings in that market.

Certainly there is a need for EMC to expand. Considered the world leader in information storage, the company has become one of the state's biggest success stories in recent years, with no sign of slowing down. It just leased 250,000 sf in Westborough, secured a 103,000-sf block at 450 Fortune Blvd. in Milford, and is also reportedly taking more than 100,000 sf of industrial space at Lincoln Property Cos. speculative industrial project in Franklin.