Insulet Corp. Settles In With Dual Leases

BEDFORD, MA-They arrived on a short-term sublease, but never left, and now burgeoning medical devices firm Insulet Corp. is sticking around Oak Park Drive for a while longer. Focused on the diabetes field, Insulet is committing to all 53,000 sf in one building and securing another 11,000 sf next door.

The firm is renewing and expanding its headquarters operations at 9 Oak Park Dr. and, in a separate deal, is taking a smaller space at 7 Oak Park Dr. for a customer support center. “It is great to see a Massachusetts company succeed and grow here,” DTZ FHO Partners principal Michael Dalton says of the tenant. Dalton joined FHO Partners colleagues Brian Hines and Tom Kent in negotiating both leases on behalf of Insulet.

The DTZ FHO team initially helped Insulet assume the 9 Oak Park Dr. sublease from Corning Inc. in 2004 and, subsequently, strike a direct pact, which was set to expire next year, with building owner William J. Callahan. DTZ FHO last autumn also brokered Insulet’s 14,000-sf lease at a Progress Road building in Bedford. “All three deals are key to our continuing expansion and success,” says Insulet VP Kevin Schmid, praising DTZ FHO for its performance throughout their extended relationship.