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HARRISON, NY-Property Reserve Inc., the Salt Lake City-based owner of 450 Mamaroneck Ave. here, has hired CB Richard Ellis to market for lease the 166,000 sf currently occupied by Citigroup. According to real estate sources, Citigroup occupies the entire building and has an existing lease that runs until the fall of 2008.

Officials with CB Richard Ellis would not comment on the Citigroup lease and whether discussions are being held with the financial services firm to renew its lease. CB Richard Ellis officials would only say that the space it is marketing at 450 Mamaroneck Ave. would become available for occupancy by October 2008.

Cushman & Wakefield is said to be representing Citigroup in connection with its space at the Harrison property. C&W had no comment on its dealings with Citigroup concerning 450 Mamaroneck Ave.

William Cuddy and Budd Wiesenberg of CB Richard Ellis’ Stamford office are handling the marketing of the space. “We are excited to be marketing such a prestigious property and we look forward to finding the right tenant to take advantage of everything the unique space and location has to offer,” Cuddy says. “The property’s prime location is ideal for a Westchester, New York City or national tenant.”

The building is located on an 18-acre campus located near I-95 and the Hutchinson River Parkway. The building features a tenant cafeteria and fitness center.

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