An industry source confirms for GlobeSt.com that the company is looking to sell the property. This move comes right after Cathartes finally received approval for the project, a difficult feat in this area. "Boston has very high barriers to entry," James Belli, a broker with Cushman & Wakefield, tells GlobeSt.com. "It is very difficult to get approvals for anything. The fact that Cathartes received all its permits significantly raises the value of the property."

Whether this was Cathartes' strategy all along is unclear. Calls to the company were not returned by presstime and the company usually concentrates on office development. Cathartes has recently bought and sold a number of properties prior to development.

Most notable among its recent deals was its sale of 150 to 200 Innerbelt Rd. in Somerville. Cathartes sold the two 192,000 sf buildings to TrizecHan Corp. for $24 million, which was more than twice what Cathartes paid for the buildings just about a year before.