The Related Companies has yet to confirm its plans for the Virgin Megastore at its One Union Square South, but the store could reportedly be out by early 2009. Winick Realty Group is leasing the property and hasn’t shed any light on what could move in. Virgin originally moved in when Union Square rents were inexpensive, and now retail rents for the 58,000-square-foot space range from $300 to $350 per square foot. “They were one of the first to take a chance and were a big part of the [Union Square] transformation,” Jennifer Falk, executive director of the Union Square Partnership, told the Villager. In March, The Real Deal took a look at Related’s possible plans for the property.
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Union Square Virgin could be gone by ’09
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