Developers that bought a South Boston warehouse property for $25 million just over a year ago are preparing to cash out after gaining approval for an office-lab complex on the primed-for-life science A Street corridor.

CV Properties and Ares Management have agreed to sell the Parkside on A development at 105 West First St. to Tishman Speyer, according to a pair of commercial real estate industry sources. One pegged the purchase price at $80 million.

The current owners acquired the property – which houses a warehouse on a 1-acre site – for $25 million in April 2018, after gaining Boston Planning & Development Approval for 250,000 square feet of office and lab space in a 7-story building in 2017.

CBRE/New England had marketed the property to potential tenants in the past year.

Tishman Speyer declined to comment. The project is expected to be built on speculation amid interest from lab tenants, according to a JLL research report issued in May.

Tishman Speyer would be the latest traditional office developer to test the market for lab space in the A Street corridor. Boston-based Anchor Line Partners is partnering with life science specialist Alexandria Real Estate Equities on a proposed 210,000-square-foot office-lab complex at 99 A St.

Developers have focused on A Street for growth of the life science industry amid dwindling availabilities in Cambridge and the nearby Seaport District. Alexandria partnered with Newton-based National Development on the $252 million acquisition of the future General Electric property on Necco Way, which includes an approved 293,000-square-foot office building site and two existing buildings.

And Mass Bay Credit Union this month placed its headquarters property at the corner of A Street and West Fourth Street on the market for redevelopment.