Sears Holdings names real estate leader

Hoffman Estates, Ill. -- Sears Holdings Corp. announced Tuesday that it has named David Lukes as president, real estate development for the company.

Lukes was previously president and CEO of real estate firm Mall Properties.

Lukes has been charged with leading Sears’ efforts to further develop its real estate assets, including those that are now non-retail.

"Historically, Sears has selectively realized value from its real estate holdings through store acquisitions, strategic store sales, and our leasing and licensed business programs,” said Lou D'Ambrosio, Sears Holdings' CEO and president. “David's hiring allows us to expand our capabilities to include the enhancement and re-development of appropriate properties."