Towson, Md. (June 11, 2008) -- Baltimore County Executive Jim Smith and Councilman Sam Moxley joined Preston Capital Management for a tour and groundbreaking for Hollins End and Hollins End East Corporate Parks in Halethorpe.

Preston Partners has purchased and is redeveloping 1.3 million square feet of aging industrial space on Hollins Ferry Road in Baltimore County's Southwest Enterprise Zone. Federal Express will be the first tenant at Hollins End, moving into a 125,000 square foot facility.

 "Preston Partners' significant investment in Halethorpe speaks to the growing importance of this traditional industrial area to Baltimore County's business growth," said Baltimore County Executive Jim Smith. "By the end of 2008, almost 700 new jobs will have come to the Southwest Enterprise Zone in just 18 months."

Baltimore County Councilman Sam Moxley noted the recent influx of new businesses to the area."Ferguson, Bakery Express, Environmental Quality Resources, and Cowan Systems have recently moved or expanded operations in Halethorpe, bringing new jobs and new business opportunities to southwest Baltimore County." 

The 51 acre Hollins End Corporate Park, a former grocery warehouse-distribution center, will be redeveloped to include multi-tenant, bulk and service-warehouse buildings. Hollins End-East Corporate Park, a six building, 517,000 square foot distribution park is slated for redevelopment during 2008-2009.

Presently 100 percent leased, the park is home to Northrop Grumann, Norandex, Barton Cotton, Star Sales and Cowan Transportation. Redevelopment plans include renovation of the interior and exterior of all buildings, roofs, new offices, new project signage, landscaping and brick accent walls.

Since its establishment in 1996, certified businesses in Baltimore County's Southwest Enterprise Zone have made $65 million in new capital and equipment investment and added 920 jobs in the Zone.  New companies moving to the Enterprise Zone in 2007-08 will bring an additional 670 new jobs to this traditionally industrial area of Baltimore County. Companies in the Enterprise Zone are eligible for state and county property tax credits and tax credits for each new job brought to the Zone.