The Exclusive Company, a music store that has occupied a storefront on the 500 block of State Street for the last 24 years, will close its doors in December.
General and Marketing Manager Stephanie Huff said Madison Property Management increased rent at the company’s location at 508 State St., which is now too high for the store to pay.
Huff also said the store made a deal with MPM that it would not have to pay the increased rent until a new client wishes to rent the space.
Another business is interested in the location, which is why The Exclusive Company is moving, according to Huff, although she did not mention a specific company.
Exclusive is looking to open a new location in downtown Madison or the east side of the city, although they “don’t want to rush,” according to Huff.
Huff said The Exclusive Company’s absence from the downtown will change the landscape of State Street and many customers will miss the music store and its in-store performances and midnight sales.
“The Exclusive Company in Madison has been an institution,” Huff said. “College students [from the last 24 years] remember shopping there.”
