Marking the final chapter in the history of Alcoa in Rockdale, Alcoa announced Monday it has completed the same of land and industrial assets in Milam and Lee Counties in a transaction valued at $240 million.
The transaction predominately included improved pasture and agricultural property and what were described as industrial assets.
The buyer was identified as SLR Property I, LP, an affiliate of a private, Texas-based investment entity.
“The successful sale of the Rockdale site demonstrates the value that we can unlock as we prepare former sites for redevelopment,” said Rob Bear, Alcoa’s Vice President of Transformation. “Since Rockdale’s closure, we’ve fulfilled our commitments and attracted numerous tenants who are helping create economic development opportunities.
“We are confident that the work we performed to prepare this site for this completed transaction will bring significant benefits to our former host community and the areas surrounding Rockdale,” said Bear.
The sale included approximately 31,000 acres in Milam and Lee Counties and was marketed as the Sandow Lakes Ranch, which includes the site of the former Rockdale aluminum smelter.
The Rockdale smelter saw operation fully curtailed in 2008 and was permanently closed in 2017.