Arlen Realty & Development Corporation, also known as Arlen, was an American REIT founded in 1959 by Arthur G. Cohen, Arthur N. Levien, and Marshall Rose. It is notable as one of the largest publicly traded REIT's in the 1970s. Arlen began by developing suburban shopping centers throughout the country, and in 1971 purchased national discount retail chain E.J. Korvette. By 1975 Arlen owned and managed over 42 million square feet of shopping centers, and controlled over $1.7 billion of US real estate assets.