THE
By : Jim Wallace It ’ s long been said the
TREND three things that matter most in real estate are location , location , location . In that spirit , T . J . Summers believes he has the best
DEVELOPER location in West Virginia –
right off the W . Va . Route 34 exit from Interstate 64 in Putnam County . Putnam County remains one of few West Virginia counties with relatively high-income levels and continued population and employment growth . For that , he thanks his father , the late Al Summers , for making good choices in real estate , buying and selling at the right time and leaving his companies with no debt .
The Summers Companies include Four-S Development and the Albert T . Summers Family Trust . Better known are their holdings , which include Liberty Square and Liberty Plaza . Those adjacent shopping centers are the heart of commercial development in Putnam County at the I-64 / W . Va . Route 34 interchange ( Exit 39 ). Although the properties have been established for many years , they remain active works in progress .
“ We constantly work to keep our properties fresh by reinvesting in them ,” Summers says . “ At Liberty Square , our most highly valued asset – we have installed new LED lighting , which makes the property more inviting and improves security . We also reroofed the entire facility .”
With a hands-on philosophy of caring for the properties , he says , “ We have our own maintenance crew . We have our own sweeper truck and our own snow removal equipment rather than relying on third-party services for those things . We do it ourselves because we can do it in a more expeditious fashion and economical way .”
Summers also is a work in progress himself , continually building his knowledge as a professional in managing commercial property . That includes obtaining his professional designations as a Real Property Administrator ( RPA ®) and a Certified Commercial Investment Member ( CCIM ), denoting he has completed advanced coursework in management of real estate assets as well as financial and market analyses . He also is a member of the International Council of Shopping Centers ( ICSC ), an association serving the global retail real estate industry and consisting of more than 70,000 members in over 100 countries .
The Panera Bread is located on an outparcel to the Liberty Square Shopping Center .
“ We try to keep ahead of the curve because the retail environment is very difficult , as you can see from some of the store closings throughout the country ,” Summers says .
He credits the stability of Putnam County ’ s economy with helping his properties overcome such setbacks as weathering bankruptcies of companies like Hills , Ames and Big Bear , which were among Liberty Square ’ s original anchor stores . As retailers come and go , Summers is always monitoring trends and looking for the companies that could improve the tenant mix at his shopping centers and satisfy the needs of the market .
In addition , he looks forward to expanding the company ’ s current real estate portfolio by developing some other highly visible and accessible properties in Putnam County , which the West Virginia University Bureau of Business and Economic Research ranked among the top five counties for job creation between 2005 and 2015 . The bureau projects Putnam County to be among a few counties that should enjoy employment growth at almost double the statewide average between 2016 and 2021 . Summers properties available for development include six acres of land on W . Va . Route 34 known as Heritage Plaza , 14 acres called Liberty Park , which is east of Liberty Square , and another four to five acres a bit farther east called The Knoll . Liberty Park Drive , a connector road built in 2014 between the W . Va . Route 34 and U . S . 35 interstate exits , makes Liberty Park and The Knoll more accessible than in the past .
Summers already knows the types of retailers he would like to attract . They include more casual dining restaurants , a sporting goods store , off-price merchandisers and electronics stores , as well as a hotel . But that ’ s just his thinking right now . Retail trends change . T . J . Summers is ready to move with them .