Hoffman Estates, IL — Sears Holdings has hired David Lukes to join its real estate business unit as president, real estate development. Lukes comes to Sears Holdings from Mall Properties, Inc.
Hoffman Estates, IL — Sears Holdings has hired David Lukes to join its real estate business unit as president, real estate development. Lukes comes to Sears Holdings from Mall Properties, Inc. where he served as president and CEO of the privately owned $3 billion real estate firm.
In this new role, Lukes will lead the company’s effort to further develop certain of its real estate assets, including those real estate assets that are no longer in use as retail stores. Jeff Stollenwerck, president of the company’s real estate business unit, will continue in that role and oversee the traditional corporate real estate functions for Sears Holdings.
“We have a very strong real estate team at Sears Holdings and that team will only be stronger with the addition of an executive of David’s caliber,” says Lou D’Ambrosio, Sears Holdings’ chief executive officer and president. “Historically, Sears has selectively realized value from its real estate holdings through store acquisitions, strategic store sales, and our leasing and licensed business programs. David’s hiring allows us to expand our capabilities to include the enhancement and redevelopment of appropriate properties.”
“Sears Holdings has one of the most diverse and valuable real estate portfolios in the country and I look forward to helping create additional value for the company by enhancing and repositioning selected parts of its real estate portfolio,” Lukes says.
Prior to Mall Properties, Lukes served as CEO and executive vice president of Kimco Realty Corporation from 2002 to 2010. There he was responsible for the financial results of Kimco’s large U.S. and Puerto Rico shopping center portfolios. He started his career in 1994 at the New York-based architectural firm Kohn Pedersen Fox Architects PC, where he was responsible for the management of design and technical departments of the full-service international architectural firm.
Sears Holdings Corporation has over 4,000 full-line and specialty retail stores in the United States and Canada. Sears Holdings is the 2011 ENERGY STAR® Retail Partner of the Year. Sears Holdings Corporation operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation. For more information, visit www.searsholdings.com.