Son takes helm at Rothrock real estate brokerage as father retires
Founder turns operations over to next generation to cap his 50-year careerDecember 5th, 2013
Todd Rothrock is taking the helm of The Rothrock Co., as his father, Rocky Rothrock , steps into retirement at age 80, after more than 50 years in the real estate business.
Todd Rothrock, who is 51, owns 50 percent of the company and is transitioning into full ownership, he says.
He describes The Rockroth Co. as a boutique commercial real estate brokerage, as he's the only broker and sales agent. The company has one other employee.
Rocky Rockroth developed Chimney Rock Industrial Park, at 3200 E. Trent, a seven-building complex with 250,000 square feet of floor space, Todd Rothrock says. His father still owns a 72,000-foot-foot building in the complex, and The Rothrock Co. manages the rest, which is owned by Lindley Property LLC, of Bellevue, Wash.
"I came on board with a real estate license in 2004, and began doing project management," for development at the park, which was completed in 2006, he says.
"Since 2008, the whole park has been 100 percent occupied," Rothrock says.
Tenants there include Sherwin Williams, Direct Automotive, and OfficeMax.
The Rockroth Co. is based in the Broadway Business Park, at 5501 E. Broadway, a four-building complex with 58,000 square feet of industrial space, which is owned by his father and a brother.
"We office where we manage," he says.
Tenants in the Broadway Business Park include Hydraulics Plus, Spokane Gymnastics, and Spokane Aerial Performance Arts LLC.
Rothrock has four brothers and three sisters. Three of his brothers also are involved in the real estate industry, although two of them are working out of Seattle under their own business entities, he says.
He says the company's revenue has remained fairly steady in recent years.
"We're seeing an uptick now," he says. "Fortunately, we were able keep most properties full during the recession. I give part of that credit to the location which is in the heart of the commercial-industrial area."
In the past couple of years, The Rothrock Company has been the sales agent for a dozen former Bank of Whitman properties that had been taken over by the Federal Deposit Insurance Corp.
"We've sold six of the 12," he says.
The Rothrock Co. also is the listing agent for the 30,000-square-foot Globe Building downtown, he says.