Nottingham Properties loses executive

October 05, 1994|By Kevin L. McQuaid | Kevin L. McQuaid,Sun Staff Writer

Richard R. Jones, the Nottingham Properties Inc. executive primarily responsible for persuading Time Warner Inc. to develop a new $40 million distribution center in White Marsh earlier this year, has resigned from the real estate firm after nearly 20 years.

Mr. Jones had indicated that he was "seeking new challenges and opportunities," and one week after he left Nottingham he joined a Timonium printing company.

As Nottingham's senior vice president, Mr. Jones was in charge of marketing and much of the commercial development in the White Marsh section of northeast Baltimore County. Nottingham is the master developer of White Marsh, a 1,485-acre region targeted by the county as one of three key growth areas.

Mr. Jones' resignation leaves Nottingham, a family-controlled company, without one of its most productive and visible executives. In addition to leading the Time Warner negotiations, Mr. Jones was instrumental in Kaiser Permanente's decision to construct a $6 million medical center in White Marsh in June, and in the development of the Rouse Company's 1.3 million-square-foot White Marsh Mall.

"We were surprised and disappointed to see him leave," said P. Douglas Dollenberg, Nottingham's chief executive. "He did a good job for us. Fortunately, we have a strong management team in place to provide continuity."

Mr. Dollenberg said the company has not yet found a replacement for Mr. Jones.

In all, Nottingham controls a real estate portfolio of 21 office and industrial buildings in White Marsh, Towson and Columbia totaling 1 million square feet, and 1,000 acres of developable land in White Marsh.

Since resigning late last month, Mr. Jones has been hired as executive vice president of Printing Corp. of America Inc., a Timonium printing concern with about 50 employees and projected 1994-1995 sales of $15 million. He has been a member of the company's board since 1987.

"While I feel I made a solid contribution at Nottingham, this is a company which needed to expand its management team in response to strong growth," Mr. Jones, 43, said Monday.

John T. Gowland, founder and chief executive of the 24-year-old printing firm, which has nearly doubled its annual revenues since 1991, said Mr. Jones "was familiar with us and has good management skills.

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