Building supplier pays $620 million for 2,000 acres in Lee County

Martin Marietta, the international building supply company based in North Carolina, has bought nearly 2,000 acres in Lee County.

The company, according to county records, paid $620 million for the land in two separate transactions — one for $420 million and another for $200 million. In all, the sale was made up of 23 parcels on Alico Road near Corkscrew Road totaling 1,986.2 acres.

Martin Marietta already operates a quarry on Alico Road.

The deals, according to copies of the deeds recorded in the county’s online record system, closed Oct. 25.

The seller was an LLC named Alico Road which the state’s Division of Corporations database and county land records show is tied to Youngquist Brothers, a privately held well drilling company based in Fort Myers.

Youngquist did not respond to a request for comment.

The combined sale is the largest in the county’s history according to Paige Rausch of Aslan Realty Advisor in Fort Myers. The closest sale dollar wise was the $363.12 million purchase of Jamaica Bay, a manufactured home community on Tamiami Trail, in 2021.

Rausch posted about the sale on LinkedIn Monday evening and shared details and data of the transaction with the Business Observer on Tuesday morning. (The Observer independently verified the information.)

Martin Marietta says on its website that it is national supplier of aggregates and heavy building materials and that it works through a network in 28 states, Canada and the Bahamas.

A spokesperson for the company did not respond to a request for comment Tuesday morning.

The company’s revenue for the second quarter of this year was $1.7 billion, down 3% from the same period last year.