The building that was home to Local Speed will now host Parkside Bike's NuLu location | Photo courtesy Parkside Bikes

The former Local Speed building in NuLu will now host Parkside Bikes. | Photo courtesy Parkside Bikes

The NuLu building that once housed Local Speed will soon become the third Parkside Bikes shop, after owners Ben Botkins and Jef Myers purchased the building at 822 East Market St. from Gill and Augusta Holland.

Botkins and Myers closed on the property on Thursday, Dec. 8, for $1.1 million, Botkins said in an interview. The building includes space for the current tenants, Sarabande Books and Thrive Yoga Studios, which will remain after Parkside Bikes opens. Parkside has been operating for eight years, with shops at 1377 Bardstown Road and 2509 Grinstead Drive.

“I can’t think of any business I am more excited about joining our NuLu neighborhood business community than Parkside Bikes,” Holland said in a press release. “NuLu continues to thrive and prove that our local businesses – retailers, restaurants and startups – are a vibrant force in our town.”

Parkside originally opened its Bardstown Road store in 2009, as a used bike shop, taking quality bikes, refurbishing them and selling them. The store focused on servicing casual riders. When the owners opened the Grinstead store six years later, they began to cater to performance bikers, focusing on mountain and racing bikes.

The NuLu shop opens Parkside to a new, promising market in downtown, Botkins said: “This was absolutely a Market Street-driven reason. It’s absolutely because it’s NuLu and downtown and Butchertown and the waterfront. The reason we purchased the property is because it’s a long-term commitment to the area. Now is definitely the time to get in.”

“With the addition of the new streetscape that’s proposed — it’s going to be the first bike-lane protected corridor — we want to tailor it to city bikes and commuter bikes,” Botkins continued. “We’re going to do rentals out of there and bike service — there’s not anyone over there doing bike service. We certainly hope to make it convenient to people who are commuting, to be able to drop a bike off there.”

“We’ve always stood back and looked at Butchertown and NuLu and have been waiting to get into that neighborhood,” he added. “We’re so, so pumped. It’s been years in the making, and we’re so excited to get into a space that can be long term.”