The space that currently holds the Virgin Megastore in Union Square will be put on the market by a real estate broker for 2009, according to Billboard.biz.
Winick Realty has already sent out packages highlighting the massive store's features, which include 28,000 square feet on one floor and 30,000 on another, Billboard reports. Virgin will vacate Feb. 1, 2009, according to The New York Sun.
Back in August, two real-estate firms, Vornado Realty Trust and The Related Companies, jointly purchased the Virgin chain, which owns 11 stores in 6 states, including the Union Square location and another in Times Square. Even then, observers predicted that Vornado-Related would shutter the New York locations in order to rent the spaces to business at higher rates.
Both stores have reportedly benefited from below-market rent thanks to long-term leases.