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An affiliate of Mile Square Transportation Inc., a Yonkers-based regional bus transportation company, has paid $10.7 million to acquire the former Precision Valve Corp. plant at 700 Nepperhan Ave. in Yonkers.
The sale of the 243,000-square-foot industrial property on approximately eight acres marks the largest industrial property deal in Westchester County this year. The facility since 1952 served as headquarters for Precision Valve, which in 2009 relocated its manufacturing and research operations to South Carolina.
The transaction, involving 11 real estate parcels, was completed within two months of contract signing by the seller”™s brokers at CB Richard Ellis”™s Westchester office, William V. Cuddy Jr. and Kevin Langtry.
