National real estate developer, Skilken Gold, announced that the company has closed on the $600,000 purchase of a 1-acre site at 3815 Chestnut Ridge Road in Elyria, Ohio for the development of a KFC restaurant for Mitra QSR. Dallas-based Mitra QSR is the country’s fourth largest domestic franchisees of KFC restaurants and one of the 50th largest franchisees in the country.
Skilken Gold will immediately break ground at the property, with an anticipated delivery of the approximately 2,200-square-foot, 42-seat restaurant at the beginning of October.
“We selected the site because of its high-volume traffic, ease of accessibility and proximity to the new Panera and Walmart Supercenter at the same intersection,” says Isaac Gold, Skilken Gold’s Senior Director of Real Estate. “This location has already become an epicenter for new retail growth, and it fits perfectly with Mitra’s growth strategy for Northeast, Ohio.”
According to Gold, desirable locations, like this one, cause fierce competition among retailers. “We had to move quickly, to secure the land and entitle it appropriately for our client,” Gold says, adding that the company attained all city approvals before closing on the purchase.
The Elyria closing follows on the heels of Skilken Gold’s recent ground breaking of a Mitra KFC in Maple Heights, Ohio on May 10. The company will be working with Mitra to select and develop additional KFC locations in the greater Cleveland Metro area.