We present an experimental and theoretical study of the optical properties of metal-dielectric-metal structures with patterned top metallic surfaces, in the THz frequency range. When the thickness of the dielectric slab is very small with respect to the wavelength, these structures are able to support strongly localized electromagnetic modes, concentrated in the subwavelength metal-metal regions. We provide a detailed analysis of the physical mechanisms which give rise to these photonic modes. Furthermore, our model quantitatively predicts the resonance positions and their coupling to free space photons. We demonstrate that these structures provide an efficient and controllable way to convert the energy of far field propagating waves into near field energy.