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Sears Hires New Real Estate Exec

Less than a month after Sears Holdings signed a deal to sell 11 of its anchor pads to General Growth Properties, the company has brought in a new president of real estate development.

David Lukes spent the past two years as president of Mall Properties Inc., but before that he was also a COO at Kimco Realty Corp. and director of development at Myers Development Company, according to his LinkedIn profile.

According to comments made by Sears CEO Lou D'Ambrosio:

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 re-development of appropriate properties.
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