The former bicycle store at 1200 Packard near Dewey was purchased earlier this year by a partnership including developer Alex de Parry. “I can’t say what his plans are at this point,” says Mike Jurgenson of Swisher Commercial, which handled the listing, but after its long vacancy “there are a number of people anxious to see the property improved.”

The building’s awning still identifies it as the Ann Arbor Cyclery, which closed abruptly in late 2010. At the time, AnnArbor.com posted a photo of a handwritten sign on the door saying the store had been closed because “my boss doesn’t want to pay me.” Apparently that wasn’t the end of trouble for the store’s owner; the property was foreclosed on last year.

Though de Parry didn’t return messages asking for comment, he’s working on a condo project that would replace an office and several homes just south of Ashley Mews downtown, and he may be looking to redevelop this location, too: the same partnership also owns the adjacent building, the former gas station that now houses Toarmina’s Pizza and shares the 1200 Packard address.