Student Spotlight

Laura Sagues
University of Pennsylvania

I’m a student in the City Planning Masters and Real Estate Certificate programs at Upenn. Long term I’m interested in retail development and re-development and I’m looking to build my skill set in leasing before development really picks back up. I’m excited to make and test theories on what drives certain groups of people to shop where they do and once they are there, what drives them to shop the way they do. I’m lucky to have found an industry that combines two major interests so early in my life.

I love that retail is more real estate driven than other product types; you can de-link some uses from their real estate—a great financial services firm can be a great financial services firm in a number of different locations—but a retailer will live or die by the particular traffic created by location and co-tenancy.

I’m often asked why I want to go into retail right now, but I know it’s a great time to learn. Retail has been evolving for thousands of years; from the Persian Bazaars to open and then covered arcades, the urban department store, suburban malls, lifestyle centers and newer urban models. The current economic climate has catalyzed the always dynamic industry. I’m having a great time watching the changing models of both larger and smaller retailers, and the creative leasing strategies of owners driven by necessity. I know I’m lucky to be starting out now. I can’t wait to see what happens next and look forward to being part of it.