Triad Machinery, which sells and services cranes for the forestry industry, is seeking to buy city-owned land on Northeast Airport Way east of Interstate 205 to erect a corporate headquarters that would host 55 jobs.
Triad has offered to buy two lots owned by the Portland Development Commission for $1.6 million.
Triad expects to spend $5 million or more to build a 30,000-square-foot office building, equipment service center and storage yard.
PDC bought the site in 2003, as part of a larger property costing $7.2 million. PDC later invested $1.7 million for infrastructure improvements, and sold off parcels as buyers emerged.
The property, now called Riverside Parkway Corporate Center, resulted in $40 million worth of private investment, which supports about 500 jobs. That includes a large site occupied by Danner/LaCrosse boot maker.
The PDC Board of Commissioners is set to approve the sale at its meeting on Wednesday.