A family real estate business with a local tie has bought Spring Garden Self Storage at 530 S. Spring Garden Ave. in DeLand, Fla. Spring Garden Self Storage LLC bought the 645-unit storage business from T.D. Bank, doing business as Apex-ME Inc. in Portland, Maine, for $2.2 million, according to Volusia County property records.
"We are slowly growing and are able to take advantage of the economic downturn and buy properties at a great price," Stephen Shaffer of Shaffer Family Partnership told the Daytona Beach News-Journal. Based in Goldenrod, Fla., Shaffer works with his brother Keith Shaffer of Orlando and father Robert Shaffer in DeBary, Fla. "With only a 48 percent occupancy, we plan to cut prices and beat everybody around us and fill it up."
Retired DeLand attorneys Dana Fogle and Harland Fogle, along with Leonard Marinaccio of Bomar Construction in Ormond Beach, Fla., built the self-storage facility in 2005.
