"It looks good that it is going to happen," one source says of Tyco committing to the asset, which Bulfinch has renamed Taylor Woods as part of a repositioning campaign. The veteran development and investment firm has also made substantial capital improvements to the building after last summer taking out a $70-million mortgage from Anglo-Irish Bank Corp., enabling Bulfinch to pursue solid credit tenants circulating in the Interstate 495 region.

At this point, none of the parties involved seems willing to discuss the situation, with calls to Bulfinch and the landlord's leasing agents at Richards Barry Joyce & Partners not returned by press deadline. RBJ principal Brian McKenzie and VP Jamey Lipscomb are exclusive leasing brokers for Taylor Woods, while Mark Reardon and Kerry Olson of CB Richard Ellis are conducting the space search for Tyco.

Reardon declined comment on the Taylor Woods rumors when contacted by GlobeSt.com, but the broker praises Bulfinch's stewardship of the asset during its tenure and the property's various attributes. "It's a really nice building," says Reardon, who would neither confirm nor deny reports that Tyco has already inked a letter of intent. Among the features for Taylor Woods cited by Bulfinch on its website are the building's full-service cafeteria, an exterior patio and a high level of power and technology.