Octal Leases 130,000 SF of Industrial Space in West Chester, Opens First Plant in North America
- Mar 03, 2014
OCTAL, a world leader in polyethylene terephthalate (PET) resin and integrated PET sheet manufacturing, is expanding its operations with the opening of its first plant in North America. The Muscat, Oman-based company recently signed a lease for 130,720 square feet of space in the Greater Cincinnati area.
The new plant is located just 20 miles north of Cincinnati, at 5399 E. Provident Drive in West Chester. The office and warehouse property is part of Duke Realty’s World Park industrial development. Other tenants in the park include Totes Isotoner and TradeGlobal.
Cushman & Wakefield Inc. worked together with Cincinnati Commercial Realtors, a C&W Alliance firm, to represent OCTAL. The team that brokered the deal included Cushman & Wakefield’s Mark Collins and Dean Collins, as well as Josh Young and Si Pitstick of Cincinnati Commercial Realtors.
“This was a six- to eight-month process of performing the proper studies and analyzing which markets made the most sense for OCTAL to place its first North American plant,” Mark Collins said. “We worked very closely with our alliance firm partners at Cincinnati Commercial Realtors to find the right mix of location, incentives and opportunity for OCTAL. This was a collaboration at every phase of the process, and that’s important when you’re dealing with an important, international client who is new to the market.”
OCTAL was formed in 2006, but it managed to quickly become the world’s largest PET sheet producer and the largest PET resin producer in the Middle East. At its facility in West Chester, the company will focus on converting post-industrial PET flake and resin into reusable rPET Sheet. The Cincinnati Business Courier reported that between 25 and 50 people will be employed at the new plant.
“We performed an in-depth site analysis to determine the optimal location for OCTAL’s long-term growth plan,” Mark Collins said. “They are a successful company that will bring jobs and investment into the area.”
Photo credits: OCTAL