Equity One hires new CEO

David Lukes
David Lukes

North Miami Beach real estate investment trust Equity One already found a replacement for its departing CEO.

Equity One is bringing in longtime retail executive David Lukes to take over for CEO Jeffrey Olson later this year, according to the company’s written announcement released on Monday. Lukes is currently president and CEO of Sears Holdings Corp. affiliate Seritage Realty Trust. He previously worked as an executive at private New York real estate firm Mall Properties and major shopping center investor Kimco Realty Corp.

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Lukes is slated to join Equity One as executive vice president by May 31. He becomes the company’s CEO once Olson departs at an unspecified date before the end of 2014.

Olson opted not to renew his employment agreement with Equity One last month. — Eric Kalis