Goodwill Industries of South Central Wisconsin Inc. did more than secure a new long-term lease for its latest retail location on the west side of Madison, Wisconsin.
It also strategically filled a sudden retail vacancy at High Point Centre, preventing an increase in empty space in the area. As a result, a panel of real estate professionals selected the transaction for the CoStar Impact Award as the lease of the year for the Milwaukee/Madison market.
"Filling mid-box retail has been challenging as of late, and this helps to take more retail vacancy off the market," said real estate adviser Isaac Berg at Colliers, who was one of the judges selecting the award recipient.
The 19,215-square-foot, single-floor retail space in Suite 13 ensures Goodwill’s further presence and expansion in the region, reinforcing its mission of community service and sustainability.
This 10-year direct lease, signed on Oct. 1, 2024, at a starting rent of $11.25 per square foot per year, marks a significant commitment to the market.
As a well-known retailer, Goodwill may benefit from its newest store enhancing retail activity while supporting its broader initiatives of repurposing goods and nonprofit expansion.
This lease further solidifies Goodwill’s role as an anchor in the marketplace, contributing to economic stability and job creation in the area.
About the building: High Point Centre is in the heart of Madison’s west side retail trade area on Mineral Point Road, a half mile east of the Beltline Highway. The area has been one of the fastest-growing sections of Madison.
What the judges said: "This is positive for the residents nearby and gives more opportunities to shop and also helps the workforce in the surrounding area," Berg said. And Patti Stevens, office broker specialist at Founders 3, said, "Landing Goodwill as an anchor tenant will help to ensure that the other, smaller retailers in the shopping center will not close due to the lack of foot traffic and will most likely attract additional retails to the center in the future."
UPDATED They made it happen: Russell Sagmoen, partner, and Dina Stetler, real estate advisor at Colliers.
This article was updated on Apr. 2 to add Dina Stetler to the 'They made it happen' section.