Self-storage veteran Kenneth Cox is now president of a new industry venture, Memphis Self Storage Group LLC. Cox has 12 partners in the business enterprise, which just acquired its first facility.
The groups first purchase was a seven-building, 476-unit A-AAA Key Mini Storage facility in Memphis, Tenn. Bought from Brundage Mini Storages Ltd., the site has been renamed Memphis Self Storage. The group has two other storage properties under contract in Tennessee, expected to close in June; and it plans to invest in sites nationwide, particularly in the Southeast.
Cox spent eight years with Storage USA and later worked for GE Capital when the companies merged. He then launched Jernigan Property Group with Storage USA Founder Dean Jernigan, remaining with the project for two years. That company sold its 20 properties last fall before closing its doors.
Memphis Self Storage Group is a general partner to Memphis Storage I Limited Partnership.