National real estate developer, Skilken Gold, announced the sale of a .73-acre property, home to an Andy’s Frozen Custard restaurant in Palos Heights, a suburb of Chicago. The buyer of the property was Dallas-based NADG NNN REIT, a subsidiary of North American Development Group (NADG). NADG, headquartered in Toronto, has more than $5 Billion of assets under management and owns over 35 million square feet of shopping center and mixed-use space in the United States and Canada.
Colliers’ Thomas Ladt and Nick Nguyen represented Skilken Gold in the transaction.
Skilken Gold initially purchased the site, situated in the Jewel Osco shopping center at the corner of Harlem Avenue and 127th Street, in August of 2020. The company developed the property for Andy’s and built the restaurant, which opened on January 15.
“We selected the site for Andy’s because of its excellent visibility and high-traffic counts,” said Isaac Gold, Skilken Gold’s Vice President of Real Estate.
According to Gold, development in an existing shopping center always requires extra pre-planning.
“We created a strategic site-access and construction sequencing plan to minimize the impact of construction and to provide a quality experience for the center’s retailers and customers,” said Gold. “Andy’s was a great partner, commitment to quality at every step.”
Founded in 1922, Skilken Gold not only is a skilled real estate developer, but also an experienced shopping center owner and operator.