McCall Oil has leased the 18 acres of land it is buying since 1974 and owns the improvements on the property, which it uses to support an asphalt manufacturing operation. The property is located in the 5400 block of Front Avenue. The agreed upon sale price is $4.64 per sf.

As part of the deal, McCall Oil will sign an environmental compliance and indemnity agreement, absolving the port of any financial responsibility with regard to contamination on the property, and put up a $1.5-million trust deed to ensure the property is cleaned up after the sale closes. "Once we let go, we need to make sure this thing doesn't continue to follow us," one port source tells GlobeSt.com.

The nine acres Mt. Hood Chemical is buying for $4.75 per sf is located on the hill behind Terminal 4. The land is part of a 32-acre parcel currently leased by Toyota and utilized for its auto processing facility. This time next year, Toyota will be moving the operation down to the dock area, clearing the way for the sale to Mt. Hood Chemical and allowing the Port to create four additional industrial parcels for sale.