SOURCE: H & H Rock Companies

August 10, 2007 05:30 ET

H & H Rock Companies Asks Business Owners: "Why Rent When You Can Own?"

Firm Brings Their Unique "Condominiumization" Approach to Baltimore County at the New White Marsh Business Park

BALTIMORE, MD--(Marketwire - August 10, 2007) - H & H Rock Companies, a full-service real estate development firm headquartered in Elkridge, MD, has found great success with a unique approach to developing commercial space in Howard County. Now the firm is bringing that fresh thinking to Baltimore County.

"Most small business owners rent their space, but we've developed a concept we call 'condominiumization,'" explains Project Manager Bradd M. Caplan. "It's similar to the residential condo concept. Business owners buy the space that we've developed and built rather than renting it. They pay fees for snow removal, landscaping and other amenities. But the big difference is that their place of work is now a financial asset they can pass on to their children."

White Marsh Business Park, located at 6200 Days Cove Road just off Route 40 and minutes from I-95, is H & H Rock's first foray into condominiumization in Baltimore County. The project includes a completed 131,200-square-foot small bay industrial warehouse with plans to add a second 137,000-square-foot building within the year.

At the beginning of August, two clients signed leases with an option to purchase their space. Bounce Party N' Play, LLC, a start-up family business, signed a five-year, two-month lease for 8,800 square feet. General Parts, Inc., a national company that supplies parts to CarMax dealerships, signed a five-year, three-month lease for 12,800 square feet. The facility will include offices and a conference area plus distribution, warehouse and storage space which will support the White Marsh CarMax.

H & H Rock Companies also recently finalized the first sale of space in the building. Phoenix Metals, a local metal distributor, purchased the two end bays of the building, a total of 12,800 square feet.

"Condominiumization is a new concept in Baltimore County and we are in the process of educating clients on the advantages it offers," says Caplan. "White Marsh Business Park is also the newest space available in the Route 40 corridor, an area we see as ripe for revitalization. We're getting in on the ground floor in an area with tremendous promise and we're bringing an exciting new way for business owners to take advantage of low interest rates and purchase a capital asset they might otherwise be unable to afford."

H & H Rock Companies is a full-service real estate development firm with an established track record in the Baltimore/Washington corridor. They work in both the commercial and residential arenas. The firm's commercial expertise includes acquisition, development, redevelopment, design and the construction of industrial, office, flex space and mixed-use properties.

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