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Huge Central Texas property near Rockdale sells for $240 million

A North Texas-based investment group has paid $240 million for a more than 31,000-acre property in Central Texas.

Alcoa Corp., a Pennsylvania-based industrial corporation, was the seller of the former Rockdale industrial site in Milam and Lee counties, about 45 miles northeast of Austin, between Austin and College Station. The property was formerly used for an aluminum smelter and coal mining but was restored with lakes and farmland.

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