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SOMMERVILLE, MA-Shortly after its surprising sale of 150 to 200 Innerbelt Rd., Cathartes Investments sold 70 Innerbelt Rd. to CP/Hers Sommerville Corp., a subsidiary of NY-based Clarion Corp. The 280,000-sf building, which is nearly fully leased, sold for $33.3 million. Cathartes purchased the facility four years ago for $14.6 million.

Cathartes’s recent real estate successes have put it in a good position to win the contract from the city of Sommerville to develop Yard 21. The city is looking for a private concern to commit money to the T (MBTA) stop in Yard 21. In exchange, the company would be able to develop office space around that location.

“Cathartes is a sound corporate entity with a solid track record,” Sean Fitzgerald, press secretary for Sommerville Mayor Dorothy A. Kelly Gay tells Globest.com. “The administration is eyeing them for the job.”

Mayor Gay has stated that she is looking to spur office growth and mixed-use developments here mainly to increase the city’s tax revenues. Because Sommerville is largely residential, its property taxes are high.

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