This style could make that much as it easily follows the outer contours of the hide.
Tandy does carry a pen style lace maker that you have mentioned only made of plastic. It works great for mid weight leather. The softer or thinner leathers it really struggles with. I also think it wastes a lot of leather as you need to cut a square (4"-6"), cut a quarter sized hole in the center, pull the lace and then discard the corners that you cannot then use.
Each tool has its pros and cons. I have all three and use each quite a bit, though the "pen style the least".
Hope this helps.