W. Craig Allen

Mr. Allen serves as President of ALCO, Inc.  ALCO is a property management company based in Virginia Beach, VA.  ALCO manages commercial properties and apartment complexes in the following areas of VA:  Tidewater (Norfolk, Portsmouth, Virginia Beach, Chesapeake, Hampton & Newport News), Williamsburg and Fredericksburg.  The majority of the properties under management are those developed, built and purchased by Mr. Allen and associated partnerships.

Mr. Allen has been involved in commercial real estate development, construction and management since 1981.  A wide variety of projects have been developed over the past 28 years, including self storage, office/warehouse, apartments, commercial build-to-suit, residential rehab and residential land development.  During the past three years Mr. Allen has led the effort to acquire several existing self storage projects, one in Fredericksburg and one in Williamsburg.  BB&T has been the primary lender involved with the purchase, construction and refinance of Mr. Allen’s projects.  A banking reference can be provided upon request.

Mr. Allen’s projects include:

American Classic Self Storage (10 locations) – all of these projects have been developed and constructed with Mr. Allen as the lead developer.  They are all located in the Tidewater Virginia area. These are state of the art projects that range in size from 50,000 – 100,000 square feet.  Each includes the construction and operation of an office/residence on site.  Construction costs on these projects have been in the range of $2,500,000 to $7,000,000.  ALCO, Inc. currently provides management services for 11 self storage projects.

Chesapeake Court Apartments/Chesapeake Village Apartments  -  these are apartment complexes developed and built by Mr. Allen in Hampton, VA.  ALCO, Inc. provides management for these projects.  Project costs ranged from $1,500,000 to $2,500,000.

Education

1975 Bachelor of Science – Mathematics – Virginia Tech

1979 Master of Science – Mathematics – College of William & Mary

1986 Licensed Real Estate Broker – Commonwealth of Virginia

1987 CCIM (Certified Commercial – Investment Member)

The Technology Gap

The solutions that bridge the gap will reduce our profit