Visual Working Memory (VWM) stores visual information for upcoming actions. Just as attention can shift externally towards relevant objects in the visual environment, attention can shift internally towards (i.e., prioritize) VWM content that is relevant for upcoming tasks. Internal and external attentional selection share a number of key neural and functional characteristics, which include their spatial organization: recent work has shown that spatial attention is directed towards the previous location of a prioritized memory item, similar to how a perceived stimulus is prioritized. Attending stimuli that are physically present is useful, as it enhances processing of the relevant visual input. When prioritizing items in memory, however, attending the prior stimulus location cannot serve this purpose, as there is no visual input to enhance. Here, we address this apparent contradiction which highlights the gaps in our understanding of the mechanisms underlying external and internal visual attention. In two EEG experiments, we compare location-specific sensory enhancement during the attentional selection of external (perceived) as compared to internal (memorized) stimuli. During both internal and external selection we observed a lateralization of alpha oscillations and gaze position bias toward the previous locations of prioritized items, confirming earlier findings that suggested an inherent spatial organization within VWM. Critically, using Rapid Invisible Frequency Tagging (RIFT), we show that sensory enhancement at the attended location is only observed during external attentional selection of (perceived) stimuli. No such location-specific sensory enhancement was observed during attentional selection of items in VWM. Furthermore, we found no clear relationship across trials between alpha lateralization and sensory enhancement (measured through RIFT) during external attention, suggesting that these two metrics indeed reflect distinct cognitive mechanisms. In sum, using a novel combination of EEG and RIFT, we demonstrate a fundamental distinction between the neural mechanisms underlying the selection of perceived and memorized objects. Both types of selection operate within a spatial reference frame, but only external selection modulates early sensory processing. Our findings suggest that the visual system is not vestigially recruiting existing mechanisms of external attention for prioritization in VWM, but is instead using space as an organizational principle to store and select items in VWM.