Breaking: Upscale Store To Open On Walnut Street! Wow!

Today, ARC Properties — the part of ARCWheeler that’s dealing with the new 10 Rittenhouse Square project — announced that Barneys New York has signed a lease to occupy at least a part of the 10 Rittenhouse retail space. (It just says Barneys; I’m assuming this means it’s Barney’s New York and not some sort of discount brand.)

Construction on this building isn’t expected to end until sometime in 2008, so it’ll be a long while before you females can live out your Sex & The City-type recreations inside the store.

Alas. Walnut, though, does continue its upscale trend, especially west of Broad. Are there even any dollar stores left?

Full release (in JPEG form, as it arrived!) after the jump.

Update, 5:32 p.m.: A source confirms that it’s a Barneys Co-Op and not a Barneys New York. The Co-Op is their “younger-themed” store or whatever. Right.