The Exclusive Company has announced it will be moving its store location at 508 State St. in downtown Madison after 24 years.
The move is expected to take place as of the end of December and is due to the loss of the record store's lease and a significant increase in the rent since the building was purchased in 2010, according to a news release.
The Exclusive Company said it continues to seek an alternate location in Madison and plans to reopen once the right location can be found.
The company said there will be various moving sales and a vinyl sale. To reduce inventory for the move, The Exclusive Company has reopened the basement level, which is stocked with new and pre-owned CD, LPs and pop culture items.
"It's good economic news for Madison that property values along State Street are increasing; however, it means that commercial rents are higher as well," said Stephanie Huff, general and marketing manager of The Exclusive Company, in a news release. "We are committed to and grateful for our loyal Madison customers, and we hope to find the right location soon -- maybe even something with convenient parking. In the meantime, we want to see people come to State Street to help us celebrate our time there."
The Exclusive Company, headquartered in Oshkosh, Wis., is America's oldest full-line independent record store, celebrating 56 years in 2012. The Exclusive Company has eight retail locations throughout Wisconsin in West Bend, Oshkosh, Appleton, Green Bay, Madison, Janesville and Milwaukee.