ARC Properties Inc. has sold all 26 properties held by ARC Corporate Realty Trust for an aggregate price of $212 million. The trust specialized in credit lease properties, and the properties\u2014located across 10 states–included such tenants as AT&T, Bed Bath & Beyond, United Technologies, OfficeMax, Walgreens and Barnes & Noble. \u00a0ARC Corporate Realty Trust was founded by the principals of ARC Properties Inc. \u00a0An ARC spokesperson told CPN\u00a0 today that multiple buyers were involved, but was unable to provide further information as of presstime. \u00a0A prepared statement said ARC is seeking to focus on land for development (one to 200 acres), single-tenant properties and net leases in the New Jersey\u2013Washington corridor \u00a0Current and recent ARC development projects, while geographically concentrated in New York, New Jersey and Pennsylvania, are otherwise pretty much all over the map. \u00a0*\u00a0 10 Rittenhouse Square, Philadelphia. A $300 million, 33-story high-rise containing 144 luxury condominiums, at 18th and Walnut streets on historic Rittenhouse Square. In February, Barneys of New York Co-op signed a lease for 10,000 square feet of ground-floor space for their first Philadelphia store. \u00a0*\u00a0 Delran Town Center, Delran, N.J.: A 450,000-square-foot shopping center with strip retail and out-lots, completed in three phases and anchored by Lowe\u2019s Home Improvement, ShopRite, Staples and HomeGoods. \u00a0*\u00a0 The Mews at Garwood, Garwood, N.J.: A joint venture with Millennium Homes, the first phase of this transit-oriented mixed-use development, comprising 84 residential units and 21,000 square feet of ground-floor retail, was completed in March. Phase II is scheduled to be completed next year. \u00a0*\u00a0 The Pointe at Lake Tappan, Pearl River, N.Y.: A 93-acre development including a planned adult community of 125 homes and 600,000 square feet of office space. ARC Properties and JV partner Millennium Homes recently sold approximately 22 acres on this site to Hunter Douglas, which will use the site for their new corporate headquarters. \u00a0ARC Properties that has been responsible for the acquisition and development of more than 300 properties over the past 20 years. \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
ARC Properties Inc. has sold all 26 properties held by ARC Corporate Realty Trust for an aggregate price of $212 million. The trust specialized in credit lease properties, and the properties\u2014located across 10 states–included such tenants as AT&T, Bed Bath & Beyond, United Technologies, OfficeMax, Walgreens and Barnes & Noble. \u00a0ARC Corporate Realty Trust was…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003784585","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n