Lee County has seen a whopper of a sale.
It’s for a mine. A big rock mine of about 2,000 acres, off Alico Road.
The price tag? $620 million.
It’s thought to be a record land price in Southwest Florida.
After mining the property for decades, the Youngquist Brothers sold it to affiliates of Martin Marietta.
Martin Marietta is a leading American-based supplier of aggregates, cement, ready mixed concrete and asphalt. A spokesperson for the company, headquartered in North Carolina, could not be reached for comment.
The deal closed Oct. 23. It involved two transactions and about two dozen parcels, strategically pieced together by the former owners years ago.
Brett Youngquist, president of Youngquist Brothers, a construction and real estate company in Fort Myers, said the decision to sell the property came after a family meeting early this year.
Based on market conditions and weighing other aspects of the family business, it was seen as the right time to “take the quarry to the market for sale,” he said.