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Schubert leaves firm

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After more than 30 years as a partner with Rothman, Schubert & Reed Realtors, Chuck Schubert has left the firm. And, no one is saying why.
Schubert retired from the East Pennsboro Township, Cumberland County-based real estate firm Jan. 1, said partner Bill Rothman.
“As far as I’m concerned, it was an amiable decision on his part and our part,” Rothman said. “With a partnership, everyone has different goals and aims.”
Schubert, 67, said he didn’t leave the firm on good terms. He refused to elaborate, saying he and Rothman plan to discuss the severance agreement.
“I won’t comment,” Schubert said by telephone from his house in Wormleysburg, Cumberland County. “There are too many things in the fire.”
Rothman, Schubert & Reed exercised a buyout provision in Schubert’s partnership agreement, Rothman said. He declined to say how much severance pay Schubert would receive.
Schubert had been a partner with the company since it was founded in 1970, Rothman said. Schubert’s name will remain as part of the company’s name, Rothman said.
Jackie Eakin, former regional asset manager for Crossgates Management Inc. of Lower Allen Township, Cumberland County, has assumed Schubert’s property management responsibilities at Rothman, Schubert & Reed, Rothman said. Crossgates Management is the property management arm of Pittsburgh-based real estate developer Crossgates Inc.
Schubert, along with former partners Rothman and Sam Reed, jointly own three Cumberland County properties: Pennsboro Commons Shopping Center in East Pennsboro Township, Creekstone Manor, a single-family housing development in Mechanicsburg, and an apartment complex in Silver Spring Township. Rothman and Schubert both said they would continue to be partners on those properties.
Schubert said he has no plans to work in real estate again. He wants to travel and shop, he said.
With Schubert’s departure, four partners remain: Rothman; his son, Greg Rothman; Sam Reed; and Jan Castner. None of them are expected to retire anytime soon, the elder Rothman said.
“Between death and retirement, death is preferable,” Bill Rothman, 60, said.

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