Alcoa Corp.
AA,
-1.51%
said Monday it has completed the sale of its former Eastalco site in Frederick County, Maryland to a joint venture of Quantum Loophole and TPG Real Estate Partners for $100 million in cash. The company expects to book a gain of about $90 million in the second quarter. The buyers are planning to develop the site into a next-generation data center community. Alcoa shares were up 1% premarket and have gained 55% in the year to date, while the S&P 500
SPX,
+0.33%
has gained 14%.