DURHAM, N.C. -- Following the announcement of a convenience-store design firm and the release of an upscale design for its “GP Express” retail brand, The Guess Corp. has engaged Newmark Grubb Knight Frank as its exclusive commercial real-estate broker.
As the company's broker of record, the New York-based firm will provide full-service real-estate services to the company and all of its subsidiaries. Dean Tselepis, director of Newmark Grubb Knight Frank, is leading the engagement with the company. The firm will oversee the acquisition of sites for the convenience stores with gasoline, commercial land purchases and commercial building purchases across all of Guess Corp.’s businesses.
“Providing an upscale gas/convenience experience with its innovative c-store concept will differentiate the firm amongst competitors in markets throughout the country,” said Tselepis.
Newmark Grubb Knight Frank will provide site selection, analysis, negotiation and facilitate the closing of all transactions for Guess.
The firm will be responsible for helping the petroleum unit of Guess, Guess Petroleum Ltd., build what the company said will be a portfolio of 1,000 convenience stores in the next 12 months.
Earlier this month, Guess named Orlando, Fla.-based Scott + Cormia as its exclusive architecture firm. This week, Guess released design renderings for the stores.
Newmark Grubb Knight Frank also will handle site selection for Guess Corp.’s hotel, country club, health care, automotive and retail merchant businesses. Other assignments will include corporate real-estate projects such as office building acquisitions and leases.
"We are delighted to have the support of Newmark Grubb Knight Frank as our real-estate broker of record. Their firm is well-suited to take care of our real-estate needs across the country and globally," said Cutie Shrestha, Guess Corp.’s newly appointed senior executive vice president/chief development officer.
Shrestha will drive the development of the company's portfolio of businesses including turnkey launches and acquisitions, the company announced this week. She joins other recently appointed executives including Summer Branson, deputy president and interim CEO; Aftan Richardson, deputy chairman; Lucy Shaffer Doherty, chief corporate officer; and Mariah Graves, president.
Durham, N.C.-based Guess is a conglomerate that began as a trader of diamonds and has expanded into more than 20 business areas since 2012.