Tandem Diabetes Care leased the former KMart store in Downtown Boise.
The company said in a filing with the Securities and Exchange Commission that it leased the building at 1500 W. Shoreline Drive in Boise. Originally home to the discount retailer, Hewlett Packard later remodeled it for office use. St. Luke’s Health System took over for back-office functions. Greenstone Properties and outgoing Boise Mayor Dave Bieter hoped to build a stadium on the land. The deal fell through. St. Luke’s instead sold the land to Ameri Shore LLC, controlled by the Rebholtz family of Boise.
Tandem Diabetes said it would pay about $91,000 per month for the lease – with annual increases each year. The filing says Tandem will spend about $1.5 million in operating costs for the building in the first year.
San Diego-based Tandem already had a temporary office in Boise, used for support functions.
With the new 96,000 square foot building, Tandem’s CEO said the Boise operation would allow it to “leverage the business and provide flexible and continued growth in 20200 and beyond.”
‘Warm welcome’ for Tandem
“We’ve established an amazing culture here at Tandem that we’re looking to continue in our Boise site and are thrilled that a number of our existing employees have already voiced interest in moving to Boise to help lead this effort,” CEO John F. Sheridan said earlier this year.
“We have been highly impressed with the talented employees who have joined in Idaho, as well as the warm welcome we have received from the local community,” Tandem’s chief administrative officer Susan Morrison told industry publication MassDevice. “This new lease provides more space for longer-term plans to continue expanding operations in Boise and build upon our early successes there.”
Tandem is a maker of insulin pump devices. It also makes diabetes software and tech solutions and builds its products in the US.