I also noticed my phone had moved to a different location... which suggested this must be a coordinated theft operation. Guess this bike thief truly is a pro.
By this point I filed a police report, filed a business travel claim, and left it at that. I checked in every few days and my phone stayed in the exact same location so I assumed it had been scrapped for parts as they had not gotten my Apple ID login in over a week. But this morning...