Could you post all the output between “sudo make install” and “install: missing file operand”? The install command is doing many things and I’ll need more context to determine which part is not working for you.
Likely fix: Rather than sudo make install, use sudo make install INSTALLDIR=`pwd` (those are backticks around pwd).
Explanation: On some systems, “sudo” clears the environment variable the ARSandbox makefile uses to find its current directory. You can define the internal make variable (that is, INSTALLDIR) to the value the install directions expect by adding the definition to the end of the command line.