LOUISVILLE, Ky. (WDRB) -- Scout, the eclectic jewelry and gifts shop in Nulu, will move to its third location on East Market Street early next year.

The store will move only a few hundred feet up the street --  from 742 E. Market to 720 E. Market – for more than twice the space. Co-owner Jim George said Scout needs more room to display furniture, a growing portion of its sales.

"We just need more floor space to show people what a bed would look like," George said, adding that he's "amazed" the store manages to sell beds and sofas without much space to display them.

Renovation work just began on the 720 building, which has been vacant for years, according to construction company owner Tim Peters, a partner in the group that owns the building.

"We went through several variations of potential tenants" before signing Scout, Peters said.

George said Scout signed a 10-year lease with the 720 owners.

The second floor of the 720 building will also be available, likely for an office tenant, Peters said. Both spaces are about 4,500 square feet, he said.

The build out for Scout will take about six months, Peters said. George said it'd be ideal for the move to occur in March -- to coincide with the store's tenth anniversary.

One complication: Scout's lease at 742 E. Market St. runs through October 2014, George said. There may be two stores for a few months to ease the transition, he said.

Jeff Rawlins, who owns Scout's current building, said he's had "a few inquiries" from retailers about the space, but nothing can be worked out until Scout's move out date is known.

"I don't have any concern about re-leasing the space; I think it'll go quick," Rawlins said.

Rawlins said he's looking for a store that "fits the neighborhood" -- meaning a non-chain, boutique-style retailer. The space could be used for a restaurant, he said, but it would require expensive renovations.

Nulu Partnership 720, the investor group involving Peters, bought the 720 building for $525,000 in July 2007, according to Jefferson County PVA records.

The group's other partners, according to Peters, are: Peters' wife Lois Mateus Peters; Gill and Augusta Holland; Steve Wilson and his wife, Laura Lee Brown; Laura Lee Gastis and Garvin Deters.

Scout's tenure on East Market Street predates the area's transformation into "Nulu."

George said he "kind of misses" some of the area's seediness, though it's probably a good thing that the prostitutes and drug dealers he used to find outside the store in its early days are no longer there.

"They don't have as much money to spend," he said.

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