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ARC Properties Sells 212M of Retail Properties

ARC Properties, Inc., a Clifton-based real estate developer, has announced the sale of 26 properties held in the ARC Corporate Realty Trust.ARC Properties, Inc., a Clifton-based real estate developer, has announced the sale of 26 properties held in the ARC Corporate Realty Trust.

ARC Corporate Realty Trust consisted of 26 properties located in 10 states with a total value of more than $212 million. Tenants of the properties included AT&T, Bed Bath & Beyond, CaroMont Health Systems, United Technologies, OfficeMax, Walgreen”s and Barnes & Noble.

“As a result of this sale, ARC is extremely well positioned to seek new acquisitions, especially in light of the turmoil in the capital markets, which has forced many real estate companies to the sidelines,” said Robert J. Ambrosi, president of ARC Properties.

ARC said it will focus its resources on pursuing new acquisitions and development opportunities in the New York to Washington, D.C., corridor, with a concentration in the New Jersey market.

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