Paying homage to the hiking activities that are part of the market for the retailer, about 30 employees walked the 18-mile trip from Bloomington to Downtown St. Paul. "There's no better way to show the Twin Cities that 'We Live Outdoors' than by hiking to our new Base Camp," says Mark Baker, chief executive at Gander Mountain, referring to the company's motto.

Eventually, the company hopes to occupy more than 100,000 sf in the 700,000-sf building new headquarters at 180 E. Fifth St. Formerly known as U.S. Bank Trust Center, 180 E. Fifth was built in 1916 and renovated in 2001. The St. Paul office of Minneapolis-based Frauenshuh Cos. manages the building. Although the financial terms were not released, Frauenshuh lists the property for $8 per sf to $10 per sf.

The City of St. Paul last fall offered an economic incentive to entice Gander: up to $1.2 million over five years to bring jobs to Downtown. Under St. Paul's Strategic Investment Fund, Gander is receiving $3,000 per job up to 400 jobs, at most. The subsidy would come in the form of a "forgivable loan," under which the loan would not have to be repaid if the company commits to stay a certain length of time.