Daniel Clarey, project manager at Gutierrez, tells GlobeSt.com that the commercial real estate development company plans to develop class A office buildings on the site. "This is ground zero for the high tech market," adds Clarey. "There are large tracts of land for campuses here and there aren't many properties like that left." The property is located about 25 miles west of the city near Route 495. Compaq, 3com and Fidelity are some of the larger companies with offices here.

The seller is MetLife Realty Investments, which has owned the land since 1975. In addition to the tract sold to Gutierrez, the towns of Northborough and Marlborough have reportedly agreed to take MetLife's remaining 150 acres here to build a high school. Because local residents have recently rejected a proposal to fund design plans for the school, its fate is unclear.