Can anyone recommend a local bike store which offers high quaity new bicycles?

Yes of course. Gina Bikes

Gina Bikes
Bicycle Store
Address: Real de Bugambilias #2, Jardines Bugambilias, Villa de Álvarez, Col.

Saludos,

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There are many companies in Puerto st 8va Norte and 4th Poniente they have a store at the corner . rent and tours.come get your map to know the best areas to enjoy viwes and destinations.
Gina

Thank you AdmireMexico for the information.