Wichita, KS – Lange Real Estate and AREA Real Estate Advisors have signed the first tenant in Wichita’s largest speculative industrial project, Ironhorse Manufacturing Park, which is owned by Triple Crown Realty Trust, LP. The companies have agreed to terms with Hyper Pet, LLC, which will occupy the entire 103,500-square-foot facility. The site will eventually include up to 600,000 square feet of manufacturing space.
Hyper Pet, a designer, manufacturer and distributor of innovative pet products, started in Wichita in 1983. The relocation from their current space at the corner of 31st Street South and Meridian is driven by strong growth in their market. High product demand for Hyper Pet has necessitated the expansion into a larger and taller space, while the company has grown its global focus as a supplier of dog toys and treats. The company, along with Triple Crown, is committed to the vision and revitalization of south Wichita.
“We congratulate Hyper Pet on their great success and need for expansion to a larger facility, and for becoming the very first company to move to the new Ironhorse Manufacturing Park,” said Nick Jordan, Interim Secretary for the Kansas Department of Commerce. “We are excited for the success story of a terrific Kansas manufacturer and appreciate their commitment to continue operating in Kansas and creating more jobs.”
The owner and developer of Ironhorse Manufacturing Park is Triple Crown Realty Trust, LP. Triple Crown was created by B12 Real Estate Partners, a real estate company owned by B12 Capital Partners, with Greg Gaeddert and Daniel Schulte as principals, and LANGE, with Jeff Lange and Rachel Lange as principals. Brent Petersen and Cory DeLong with AREA Real Estate Advisors, and Toby Martinez with Lange Real Estate are the agents handling the lease activity in Ironhorse. Kevin Wilkerson with JLL represented Hyper Pet in the transaction.
Triple Crown began operations in 2016 and is preparing to convert into a real estate investment trust, or REIT. One of its investment mandates is to drive revitalization of the Crossgate District of Wichita. The Crossgate district is an area of Wichita south and west of I-235 and I-135. They have hired Richard Napper as the Master Developer for the Crossgate District and he has been instrumental in that role for this project and several others underway. This is Triple Crown’s second acquisition in the Crossgate District. Saddle Creek Crossing, a retail development at 47th Street South and South Broadway, was acquired in August of last year.
“Our team has worked very hard to create Ironhorse Manufacturing Park as a means to attract and keep manufacturers in Wichita, particularly this area of Wichita. We want to help strong-growth companies expand with state of the art facilities, which are hard to find in this market. Providing spaces for companies like Hyper Pet is an important part of expanding businesses in Wichita. Tim Blurton and the whole team at Hyper Pet are a perfect example of the type of driven companies we expect to attract to the Crossgate District,” said Jeff Lange, of Lange Real Estate and Triple Crown.
Triple Crown has worked with Dondlinger Construction, LK Architecture and Baughman on the construction, design and engineering of Ironhorse Manufacturing Park and see it as a boon for the south Wichita area. With easy access to both highways, as well as access to a skilled labor force, the area is ideal for warehouse space and manufacturing. This site allows for a multitude of uses and future construction that can be built out to suit a specific user.
“We are pleased to work with Hyper Pet on their expansion needs,” said Andrew Nave, Executive Vice President of Economic Development for the Greater Wichita Partnership. “The company looked at numerous options and will be growing their business and capabilities in our region, thanks in part to the Lange team’s vision of a new manufacturing facility.”