The city has issued a notice of default to Clark Construction Group and claims the city is entitled to damages.

The deal is expected to close on or around Feb. 4.

The deal brokered by CBRE involves Arc's move this April from its current administrative offices at 1465 Route 31 South in Annandale to the 277,000-square-foot property owned by Shelbourne Global Solutions of New York City.

With its lease of 343 Murray Hill Parkway, Axis Global Logistics will be able to service its growing client base in the New York City metropolitan market, according to NAI James E. Hanson.