Daily News for Commercial Real Estate & Business – January 18, 2011

Tempe-based CaseTech is a fast-growing company Tempe-based CaseTech, a company that distributes custom-designed, reusable shipping cases, has grown 311 percent in the past three years. That earned it a spot on Inc. magazine's list of the 5,000 fastest-growing private companies in 2010. CaseTech, which has six employees, did $13.2 million in sales in 2009. View article...

South Mountain Freeway plan weighed by Gila River tribe Moving the route of the planned South Mountain Freeway from Ahwatukee Foothills and the South Mountain Preserve to the Gila River Reservation would save part of the mountain range, protect wildlife and create new economic opportunities, according to a presentation being given by tribal officials to their community this month. The planned $1.9 billion extension of Loop 202 would link west Phoenix to Chandler with a 22-mile eight-lane freeway. View article...

Mesa Council approves new uses for old houses People who own old houses along major arterial streets will be allowed to convert them to offices, stores and even restaurants under a new zoning code. The City Council approved that idea last week as it waded through the last few details of the massive document heading for final approval this spring. The code is designed to modernize Mesa's development procedures and design standards, with special provisions for "infill" projects and urbanization in some areas. View article...

Ra Sushi remodels Ahwatukee restaurant Ra Sushi, in Ahwatukee for nearly nine years, has undergone a $200,000 makeover of the restaurant's dining room and restrooms. Gone is the wooden counter at the sushi bar, which now sports a granite top with chrome lighting hanging over it. Behind the bar is a red-and-black tiled wall with a metal, plasma cut fish mounted on it. View article...

Limelight Networks opens Arizona Internet Exchange Limelight Networks Inc. has begun operating a new cross-connection for its Internet operations with i/o Data Centers in hopes of boosting connection speeds. Tempe-based Limelight (Nasdaq: LLNW) announced the Arizona Internet Exchange on Monday. View article...

Moody's: CMBS Loan Delinquencies Soar 79% in 2010 The delinquency rate on loans included in conduit and fusion U.S. commercial mortgage-backed securities (CMBS) deals skyrocketed 79 percent over the past 12 months, according to Moody's Investors Service. View article...

If you want a copy of the latest foreclosure spreadsheet, email me and I will send it to you.

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.

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