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The future of the Virgin Megastore space on Union Square has been sealed: As rumored, it's becoming a Nordstrom Rack. The discount offshoot carries the same brands as Nordstrom for 50% to 60% off original prices, meaning that Filene's—which itself just got purchased by Syms—probably isn't thrilled with its new neighbor. Meanwhile, continuing the Union Square merry-go-round, Nordstrom's press release confirms that the empty shell of Circuit City will become a Best Buy. Expect that to open in late 2009 and Rack to open in spring of '10.
· Storecasting: A Nordstrom Rack for Union Square? [Racked]
· Nordstrom Rack takes Virgin Megastore space [The Real Deal]