H & H Rock Companies pioneers new approach to commercial and industrial real estate

Small business owners gain benefit of owning their place of work

BALTIMORE, MD, July 11, 2007 — Most owners of small businesses rent their workspace. The rent paid is an expense that can cut into profits. But H & H Rock Companies, a full-service real estate development firm headquartered in Elkridge, MD, is offering small business owners a chance to put that money to better use and own an asset they can pass on to future generations.

“What we’re doing is called ‘condominiumization,’” explains Project Manager Bradd M. Caplan. “We develop and build an industrial or office park, and then the clients can purchase rather than rent the space they need within those buildings. Like in a residential condo, they pay fees for amenities like snow removal and landscaping, but they own their place of work. Unlike renting, they now have a real capital asset that they can pass on to their children.”

H & H Rock recently opened Howard Business Park off Dorsey Road in Elkridge, MD, a prime example of the condominiumization approach. The 16-acre site, which is located seconds from Route 100, I-95 and I-295, includes five small bay industrial warehouse buildings with a total of 155,000 square feet. M and K Foods has already purchased and occupied one 10,000-square-foot building in the complex. At the beginning of July, ACR Insulation purchased a 30,000-square-foot building and was up and running in the new location within a week’s time.

“This innovative approach opens new options for small and family-owned businesses who want to take advantage of low interest rates to purchase space but who do not want to handle the costs that would be involved if they purchased land and built their own facility,” adds Caplan.