Cosmic Pet

Wichita Pet Toy Maker Expanding with Square Feet, Employees

Hyper Pet, a Wichita-based pet toy manufacturing company, is expanding its footprint in Wichita under a new name.

The company plans to double its square footage and add 24 new employees to its 50-member workforce, according to a Wichita City Council agenda.

Since Hyper Pet moved into a 103,000 square-foot building in Jeff Lange’s Ironhorse Manufacturing Park in 2018, it has acquired several other businesses, said Jeff Lowrance, business development manager for Lange Real Estate. With those acquisitions, the company has rebranded itself as Cosmic Pet.

Warren Vann, Cosmic Pet’s CFO and COO, couldn’t immediately be reached for comment.

Cosmic Pet designs and distributes dog collars, leashes, toys and other pet-related products. The company got its start in Wichita inside a 10,000-square-foot building in 1983. It nearly relocated its

headquarters to the Kansas City area in 2017 before Lange convinced Hyper Pet to stay in Wichita and move to the spec industrial building he put up at Ironhorse Manufacturing Park.

Cosmic Pet will lease an additional 100,000 square-foot building adjacent to its current facility on the southwest corner of Seneca and MacArthur. The new industrial spec building is under construction and is expected to complete in October or November, Lowrance said.

IH1 LLC, a holding company managed by Lange, will ask the City Council on Tuesday for Industrial Revenue Bonds for the new property in an amount not to exceed 6.1 million and a 94 percent five-plus-five-year tax abatement

IRBs require no taxpayer commitment, but they can help developers secure lower interest rates on projects. 

The city’s speculative building program was approved on December 2017. It was designed to address what many in the commercial real estate industry say is the ongoing need for existing industrial space in Wichita. 

Original source: https://www.bizjournals.com/wichita/news/2019/08/11/wichita-pet-toy-maker-expanding-with-square-feet.html

Written by: Shelby Reynolds – Reporter

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