The business realty market is responding with shock to the abrupt passing of Joe Stettinius, a significant force behind the mergers that created the most recent iteration of Cushman & & Wakefield
. A stalwart of business real estate in the Washington, D.C., area for years, Stettinius acquired nationwide honor when he oversaw, with Mark Burkhart, the nationwide growth of Cassidy Turley.
Stettinius, a dedicated married man who was favored in the industry, went on to play a critical function in the mergers of Cassidy Turley and DTZ, and after that the mix of Cushman & & Wakefield and DTZ. Stettinius functioned as the very first CEO of the Americas of Cushman after the mergers. He most just recently served as executive vice chairman, Strategic Investments, Americas.
Deal-making was in Stettinius’ blood, stated CoStar creator and CEO Andy Florance. He was the grandson of Secretary of State Edward Stettinius, who served in that function for Presidents Franklin Roosevelt and Harry S. Truman in 1944 and 1945. In the well-known picture of the 1945 Yalta Conference, Edward Stettinius is backing up Roosevelt.
“Joe inherited that remarkable statesman capability,” Florance said. “He was simply fantastic at bringing individuals together. He empathized with each person he satisfied and with that capability he was the very best dealmaker I ever met.”
Stettinius’ death was announced Friday in an email from Shawn Mobley, Cushman & & Wakefield CEO, Americas, to Cushman workers. He was 55.
“It goes without stating that Joe was a significant force in the CRE industry for more than Thirty Years, starting with his days as an accomplished leasing agent, where he closed approximately 4.5 million square feet of leases for property owners of Washington, DC landmarks such as 1111 Pennsylvania Avenue, the Evening Star Building, and Hall of the States,” Mobley composed in the message.
“A significant motorist and orchestrator of the company’s success to this day, Joe played a pivotal function in the planning, preparation and execution of the merger of Cassidy Turley and DTZ, where he served as CEO of Cassidy Turley, and the merger of Cushman & & Wakefield and DTZ, where he served as Chief Executive, Americas,” his statement added.
Stettinius earned the respect and appreciation of his associates and rivals across the country. His settlement skills, developed during his time as a leasing representative, were vital as he merged Cassidy Turley and DTZ and then DTZ and Cushman & & Wakefield. Stettinius likewise was applauded for his handling of officially moving the headquarters of Cassidy Turley from St. Louis when he became CEO of the company.
His knowledge and executive skill resulted in Stettinius winning numerous awards and honors from the industrial realty press and his peers. Industrial Home Executive called him its 2015 Executive of the Year, and Washington Organisation Journal named him A lot of Admired CEO in 2013.
Stettinius’ deep network of associates, peers and good friends were still processing the news Friday afternoon.
“I am exceptionally sad, at the moment. Joe is, has, and will constantly be an impactful person in my life and profession,” stated John J. Fleury, president of Madison Marquette of Washington. Fleury acted as COO and CFO of Cassidy Turley and as president of the old Cassidy & & Pinkard Colliers.
“I took pleasure in the benefit of dealing with Joe for more than a decade and called lots of industry veterinarians, yesterday we lost among the truly terrific ones. His excitement, interest and entrepreneurialism gave rise to success of the business he dealt with,” Fleury said. “I can just wish to deal with such a pro in our industry again.”
“We will remember Joe for numerous things. Most of all we’ll remember that he loved a good deal, and he was enthusiastic about bringing 2 disparate groups together to develop something much better than they were before – he was a genius at linking people,” Mobley stated in his note to workers. “Thank you Joe for exactly what you provided for our market, for our company, and for our neighborhood. We’ll miss you.”
Stettinius is made it through by his other half Regina, child Isabel and child Alexander.