Good Heavens…Walmart?

ByDon

The latest gossip from The Villager:

While the fate of two prime-time storefronts on the south side of Union Square has yet to be determined, recent whispers have indicated that more big-box stores could be headed for the space currently occupied by a pair of retail behemoths.

Electronics retailer Circuit City, which filed for bankruptcy late last year, will shutter its location on 14th St. at Fourth Ave. at the end of next month as part of plan to auction off all its properties and leases nationwide.

A sales associate at the store said that Walmart was interested in the space, which is owned by developer The Related Companies, although a New York-based spokesperson for Walmart said the big-box chain currently has no announced projects in the city.

Best Buy, which has a store less than a mile away on W. 23rd St., is another name that has been floated as a future tenant. A company spokesperson said the electronics-and-entertainment retailer does not currently have any plans for the site and could not speculate on potential deals.

Rumors have also swirled for months over the possible departure of the adjacent Virgin Megastore, where Related — which owns a controlling interest of the Virgin stores — is also the landlord.

“We’ve made no decision about that property,” Related spokesperson Joanna Rose told Mixed Use, echoing her statements to this paper from last May regarding Virgin’s long-speculated exit. However, Rose did confirm that brokerage Winick Realty Group continues to handle the leasing assignment for the nearly 60,000-square-foot property.

A spokesperson for the Union Square Partnership did not have any information on who could open in either space, where brokers have pegged asking prices for the marquee addresses at upward of $300 to $350 per square foot.

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    Richard Cantor, a principle in the real estate marketing firm of Cantor-Pecorella, considers that the best of Village life consists of “very luxurious” apartments that incorporate the “open expanse” of loft-style living with the communal intimacy of townhouse residency. How serendipitous that Mr. Cantor’s firm should happen to be marketing the new(ish) eight-unit development at 12 East 13th Street co-engineered by DHA Capital and Continental Properties, which, he recently told the Observer, evinces just these same qualities! You know what they say, it’s always easier to sell a product that you truly believe in.

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