Cushman & Wakefield is exclusively marketing the site. Itwill be the first time the 21-story property has been officiallyput on the market for sale since 1975 when it was built. It hasserved as a home to offices for IBM for years.

The property's owner, Westchester One LLC, an entity controlledby the Pepe family, "believes it is a good time to sell," saysPatrick Colwell, senior director of Cushman & Wakefield'sCapital Markets Group. "The market is getting very strong in WhitePlains and the capital markets are still strong and aggressivelyseeking significant projects." Colwell, along with C&W vicechairman Edward Weiss, Andrew Merin, vice chairman of the firm'sCapital Markets Group, and senior director with C&W GregFrisoli are working on the assignment.

The property is currently 94% leased. Argent Mortgage occupies300,000 sf of space at the building, while IBM leases approximately279,000-sf. However, the computer giant has sublet approximately90% of that space. Other major tenants include Oxford HealthPlains, which leases 56,000 sf, Reuters, which occupies 42,000 sfand Blue Sky Studios, which occupies more than 100,000 sf. Noasking price has been set for the building, which is located nextto the Westchester and Westchester Pavilion shopping malls on theoutskirts of the downtown area.