YONKERS, NY-An affiliate of Mile Square Transportation Inc. is purchasing 700 Nepperhan Ave. for $10.75 million. Previously, the 243,000-square-foot industrial served as the headquarters to the former owner, Precision Valve Corp. The sale was arranged by CB Richard Ellis.

The former owner had resided in the space since 1952, but has since vacated the premises and moved to South Carolina. The property spans eight acres in the Nepperhan Valley. The deal was transacted with bank financing from Chase, although the terms of that loan were not disclosed.

William Cuddy, EVP, and Kevin Langtry, senior associate of CBRE’s Westchester office repped Precision. The deal was closed within roughly a two month time period.

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