This 16,322 sf, three-story building is a landmark in the center of downtown Salem, located adjacent to the county courthouse and at the entrance to Roanoke College.
Past Projects
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College & Main Office Building
210 Main St., Salem, VA -
King Street Office Building
104 King St, Blacksburg, VADeveloped and constructed by Mr. Alcorn, Sr. in 1965 as the regional office for the US Forestry Service. This 3,600 sf office building served as the Company's headquarters in Blacksburg from 1984-2007.
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Park Plaza Office Building
3701 South Main St, Blacksburg, VAThis 15,000 sf office/retail building completed the eight-acre Park Plaza commercial development begun by the Company in 1986. The land is the original home of A&U Motor Sales, purchased by Mr. Alcorn Sr. and Mr. Underwood in 1953. The property was sold in 1993.
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Drysdale Eye Center
3645 S Main St, Blacksburg, VA 240608,000 sf medical clinic built adjacent to Park Plaza in 1992. Ray served as the overall project manager for Park Plaza, and managed the sale of the Drysdale site. At the time the sale ranked as one of the highest land sales on a per square foot basis on record in Montgomery County.
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Walgreens
2460 N. Franklin St, Christiansburg, VAMr. Alcorn Sr. originally developed this property in 1960 as a 32-lane bowling center. The sons redeveloped the property for Walgreens in 2003. The property was sold to a Florida investment firm in 2006.
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Walgreens
1725 West Main St, Salem VAThe Company acquired this newly constructed Walgreen's drug store through a related transaction with the developer in 2003. The 14,560 sf building is located on the main retail corridor of this growing city. The Company sold the property in 2004.
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Monroe Muffler
1839 West Main St, Salem, VALocated adjacent to the Wal-Mart Supercenter (next entry below), the company retained this parcel and subsequently developed the site as a Monroe Muffler location in 1992.
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Walmart Supercenter
1841 South Main St, Salem, VAThe company acquired the real estate as a 44-unit motel property in 1972. Property was sold for redevelopment 1988 in a co-development arrangement with Eisenberg Realty of St. Louis, MO.
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Triangle Plaza Shopping Center
North Franklin St, Christiansburg, VANorth Franklin Street, Christiansburg, VA. The Company developed this 46,000 sf shopping center in 1969. Rick managed the property, and maintained a consistent 100% occupancy level until the property was exchanged in 1986 for several properties in Blacksburg.
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Big Boy Restaurant
3703 South Main St, Blacksburg, VAThe company developed this franchised full-service restaurant adjacent to the Blacksburg Comfort Inn in 1991. The property was sold to an owner/operator in 1994, repurchased by the company in 2002, and is currently leased to the El Mariachi restaurant.
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Northview Apartments
110 Northview Dr, Blacksburg, VAAcquired in 1986, Randy managed this 54-unit apartment complex, catering to graduate and international students. In 1999 the company performed extensive renovations which significantly improved performance and value. The complex was sold in 2005.
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Burch Apartments
712 E. Roanoke St, 709 E. Lee St, Blacksburg, VAAcquired in 1986, this complex is located in central Blacksburg VA, serving the student housing market. The company sold the properties in 2002.
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Roanoke Street Apartments
710 E. Roanoke St, Blacksburg, VAAcquired in 1999, the Company purchased a three-bedroom house adjacent to Burch Apartments and expanded the property to a multi-family complex. The company sold this property in 2002.
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Leisure Lanes Bowling Center and Restaurant
1709 N. Lee Highway, Pulaski, VAAcquired in 1972, this sixteen-lane bowling and recreational center was operated by the Company with onsite general managers reporting to the corporate office. Ron Alcorn was GM in the 1990’s, and Rick Alcorn supervised a total refurbishment of the facility in 2004 prior to leasing the facility to third-party operators. The property was sold 2011.
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Triangle Lanes Bowling Center and Restaurant
2460 North Franklin St, Christiansburg, VABuilt by Mr. Alcorn, Sr. in 1960, Triangle was a 32-lane bowling center and 60-seat restaurant located at the intersection of Peppers Ferry Road (Route 114) and North Franklin Street (Route 460). The Company operated this business until January 2003, and then worked in cooperation with a Tennessee developer to redevelop the site for the Walgreens Drugstore.
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Park Realty Company
Blacksburg, VAThis entity is the most direct predecessor of the current Company. Originally formed in 1953 as a general partnership by Mr. Alcorn, Sr., the company specialized in building mobile home parks throughout Virginia, West Virginia and North Carolina. Park Realty became a sole proprietorship in 1977 with the death of Mr. Alcorn's partner. In 1981, Rick became General Manager. Gradually the emphasis and direction of the company changed from mobile home parks to the ownership and management of all types of income properties, including many of the projects listed here. The company merged its operations with Park Real Estate Inc. in 1996.
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Future Home Builders, Inc.
Southwest VirginiaModular housing construction and development firm headquartered in Christiansburg, Virginia. Mr. Alcorn, Sr. founded this company in 1978, which specialized in the development of subdivisions and custom built housing. Ray was the general manager from 1980-1984. Rick managed from 1984-1990. Company built over 100 single-family homes using modular construction techniques that at the time were among the most progressive building system in practice. Other activities included the development of a number of infill residential lots, and the construction of several multi-family student housing projects in Blacksburg for owner-investors.
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Omega Homes, Inc.
VA, NC, WVMulti-location manufactured housing sales operation founded by Mr. Alcorn, Sr. in 1974. The company operated ten sales centers in Virginia, West Virginia, and North Carolina, with annual sales exceeding $15 million. In the 1990's Omega ceased up its housing sales operations and became a real estate development firm. The corporation was merged into Park Real Estate, Inc. in 1996. Randy served as Vice President of Retail Finance. Ray was involved in various sales and management capacities over the years.
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