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Sears Tabs Lukes to Lead Real Estate Development

Posted on March 20, 2012 by HFN Staff

HOFFMAN ESTATES, Ill.-David Lukes has joined Sears Holdings as president of real estate development.

Lukes is responsible for leading the company's efforts to further develop certain of its real estate assets, including those that are no longer used as stores. Lou D'Ambrosio, president and CEO of Sears Holdings, said the company has historically realized value from its real estate holdings through store acquisitions, strategic store sales and its leasing and licensed business programs. "David's hiring allows us to expand our capabilities to include the enhancement and redevelopment of appropriate properties," D'Ambrosio said.

Jeff Stollenwerck, president of Sears Holdings' real estate business unit, continues in this role. Stollenwerck oversees the company's traditional corporate real estate functions.

Before taking his new role with Sears Holdings, Lukes was president and CEO of Mall Properties. Prior to this, he was executive vice president and chief operation officer of Kimco Realty Corp.