The total value hits nearly $1 billion when you include the mining equipment and machinery. Martin Marietta plans to keep mining operations going at the site.

The two sides worked directly without brokers to close this huge deal.

“We’ve been in talks with Martin Marietta over the past few months,” said Brett Youngquist to Gulf Shore Business. “We finally reached an agreement five or six weeks ago. It was just an extremely efficient and smooth transaction process.”

Real estate expert Steve Cunningham says limited rock supplies helped push the high price. This buy gives Martin Marietta important building materials in a growing market.

The Youngquist family ran this mine for more than 20 years. They’ve seen the area change from rural farmland into a busy construction zone.

Market expert Chase Mayhugh thinks this might lead to more similar deals. As southwest Florida grows, quarries become more valuable to meet building needs.