Laurence Steinberg, director, and Michelle Goldman of locally based Michael Salove Co. Commercial Real Estate represented both the tenant and the owner in the transaction, which they report is valued at in excess of $4 million. Calling Guess "the darling of the apparel industry," Steinberg says, "their commitment to Walnut Street reinforces the strength of Rittenhouse Row shopping."

Rittenhouse Row is the name given to the stretch of Walnut that extends from Broad Street west to 21st Street, and it is Center City's luxury retail corridor. The Guess unit replaces Benetton, which has a second location in the Shops at Liberty Place, located at 1625 Chestnut St. Guess will occupy approximately 3,063 sf on the first floor and 2,700 sf on the second.

The retail firm was founded by the Marciano brothers in 1981 and operates 747 retail locations worldwide under multiple retail concepts, which include Guess, Marciano, accessories-only and G by Guess stores. The focus is on fashion-forward apparel, handbags, shoes, watches and fragrances for men and women.