DeBoer scraps plans for WaterWalk building; former Gander Mountain goes on the market

If there’s any doubt that the coronavirus pandemic is changing the world of office space, just look at what’s happening at WaterWalk.

King of Freight owner Mike Ricklefs has put the former Gander Mountain building on the market, and developer Jack DeBoer has nixed plans for a 115,000-square-foot, five-story office building at the southwest corner of Waterman and Main.

“This is not the time, I think, to build a AA office building,” DeBoer said. “The whole world is going to be different.”

Or, to put it another way, he said, “The world, she’s pretty crazy.”

Ricklefs has put the almost 90,000-square-foot freight brokerage building on the market for $6 million. It’s listed with Will Harmon of KW Commercial.

“We’re just testing the market,” Ricklefs said.

He said he had completely remodeled the building for his 550 — and growing — employees. COVID-19 has changed things, though. All but about 10 or 15 King of Freight employees are working from home.

“I’m not going to force them to go back,” Ricklefs said. “They’re all doing extremely well, and we’re thriving at home. I’m very, very proud of all my employees.”

He’s had quite a bit of luck with timing this year.

Ricklefs had been looking to build another office near 27th and Greenwich. While waiting for the building, he wanted another one-year lease at the Ruffin Building at Douglas and Broadway, where he occupies parts of three floors, but he couldn’t get it.

“I’m very, very happy that Phil Ruffin chose to not give me another year of rent.”

Ricklefs isn’t going to build the new building either. He had property under contract but was able to walk away.

He said his company is growing at a slower rate than it had been, but it is still growing. Ricklefs said he’s hiring about 20 or 30 people a week.

He also said that he’s open to leasing his building for $80,000 a month.

DeBoer said he’s not sure what he’s going to do with his property.

He said he had been prepared to break ground on May 1.

“It was nice. If somebody wants to build it, I’ll give them the plans.”

DeBoer said everyone is still trying to figure out what’s going to happen in the office sector. He said there will always be some offices but that they’ll look different, probably with fewer people and more distance between them.

He’s now “rummaging around trying to figure out what the world’s going to be like when this whole thing passes.”

“We’re looking at everything.”

DeBoer said he never could have predicted what’s happening.

“I’m amazed, and I really don’t know any more than the next person about what’s happening.”

The hotel pioneer said “the hotel industry is in shambles” and he’s waiting to see how the situation plays out.

His WaterWalk Apartments continue to have strong occupancy nationally — much stronger than the hotel industry, he said.

Still, at age 89, is there any part of him that simply wants to divest of everything and just enjoy retirement? It seems like such a good time to do it.

“That’s a good question,” DeBoer said. “People say to me, ‘Why don’t you quit?’

“But my enjoyment is working and . . . I’m not going to quit.”

He said he’s already “been every place in the world, and I’ve done everything, and I enjoy working.”

“It’s a very great ride.”

DeBoer said he doesn’t like to see “what’s going on because it’s hurting a lot of people.”

He said while “the pandemic is awful,” not all of the changes associated with it are.

“I don’t think it’s all bad. I really don’t.”

This story was originally published July 8, 2020 at 10:34 AM with the headline "DeBoer scraps plans for WaterWalk building; former Gander Mountain goes on the market."