Josh Poag, President and CEO of Poag Shopping Centers, and Scott Kern, President and CEO of KRN Development, made the announcement.
The company’s development focus will start with downtown and midtown Memphis, with the goal of expanding to other cities nationwide, primarily in the nine markets where Poag Shopping Centers already has a presence. The firms are actively working together on various development opportunities leading up to the official launch of the company this quarter.
KPS Development Partners will be located at 1331 Union Ave. in the Medical District. Scott Kern, President and CEO of KRN Development, will serve as president of the new company with Josh Poag and David Selberg, Poag Shopping Center’s CEO and CFO, acting in an advisory role as board members.
Kern previously served as the COO and Senior Vice President of Development at Poag Shopping Centers. In 2019, he created KRN Development with a focus on pursuing mixed-use development projects in Midtown and Downtown Memphis, as well as opportunistic developments in other markets.