Negotiations for the two 115,000-sf buildings began early last fall and closed two weeks ago. Cisco leased the two four-story buildings back in October and has plans to buy and occupy a third, 93,000-sf building upon its completion in June. The buildings comprise Lincoln Centre. The only other occupant in the complex is Groundswell, and Internet services consultant.

Cisco has also tied up two office buildings under construction by Opus West in the Emerald Point business complex in Dublin, and a chunk of nearby land owned by Alameda County. Cisco has been making $250,000-a-month escrow deposits toward the land purchase, but now may delay the deal in light of 8,000 pending layoffs. It also is at least temporarily abandoning its search for space in Sonoma County to double the size of a 270,000-sf Petaluma campus.

The No. 1 maker of networking equipment for the Internet on Monday saw its stock trade at a new 52-week low of $17.50 per share after analysts cut earnings estimates for the company because of the US economic slowdown. At the close of trading Tuesday, shares of Cisco were trading at $18.12. A year ago today, Cisco stock was trading at an all-time high of $82 a share.