Rot?? Im not sure..

Those look like aerial roots to me. Aerial roots form when conditions prevent the roots from taking up water. This can be because the roots have rotted, or completely fried out, or the stem is severed. Since your plant lost lower leaves first, they probably drowned. Cut off any affected stem and place the rest in dry medium in a small or shallow pot so it dries fast. Don't water for several weeks, the water much more moderately than you have been.

It also appear to not be getting enough light, judging by the first photo. Less light means it's not growing fast enough to use much water, so plants in direct sun use more water. Keep that in mind as you try to find the best location for it.

Are you sure there is no rot? This area (circled) doesn't look good to me - but photos could be misleading:

I can't tell if the roots are aerial roots - those are usually much finer, often reddish or light brownish color. Some plants grow them, many grow a lot that looks like a beard :)

Thanks for the responses. I appreciate the input. Strangely enough, a few hours after I posted my message, the part that Rina circled in red shriveled up and turned dark grey. At this point, I'm certain this plant is done. I saved some of the leaves to see if they'll propagate. I'm just surprised how quickly this happened because the plant looked completely healthy two days ago. I repotted it about 3 weeks ago and guess that might have something to do with it dying though I'm not sure what. It was planted with a couple of jade plants and some baby echeverias. I used 50% cactus soil and 50% perlite. I assumed root rot but was expecting the soil to be wet. When I pulled it out of the soil, the soil appeared to be on the dry side. The others plants seem to be ok but now I'm watching ever more closely to see if the same will happen to them.