June 20, 2024

Rafi Law Group has relocated its corporate headquarters to the Biltmore Corridor of Phoenix. 
The personal injury law firm bought Highland Executive Park in July 2021 for $6.9 million, according to real estate database Vizzda. The seller traces to MAI Construction.
The law firm is now occupying the three-building, 21,997-square-foot complex at 4701 N. 24th St., Rafi Law Group announced. The three buildings include eight conference rooms, two state-of-the-art multimedia studios, four kitchens and two reception desks.
Trevor Pratt, executive vice president at JLL, represented Rafi Law Group in the deal.
“We are extremely passionate about our Arizona community, and we are very excited for the opening of our new office in the Biltmore area,” Brandon Rafi, founder of Rafi Law Group said in a statement. “This centralized corporate headquarters positions the firm for future growth and provides a platform for a new era of customer service for the legal industry in Arizona.”
According to the firm, 70 employees, including the management team, are now located at the new HQ.
Rafi Law Group is continuing to grow, the firm said, and is looking to hire 20 employees, including five attorneys, in five departments.
In addition to the new HQ, Rafi Law Group has five other offices in Arizona, including two others in Phoenix and one each in Mesa, Avondale and Tucson. Founded in 2015, the firm specializing in representing automobile accident victims has more than 180 employees across all offices.
Super Star Car Wash has relocated its corporate headquarters about 30 minutes to the northeast.
CBRE Group Inc. announced that Super Star Car Wash will lease about 24,000 square feet at 960 W. Behrend Drive in Phoenix’s Deer Valley submarket. The company moved from a nearly 6,500-square-foot office at 1830 N 95th Ave. in Phoenix.
With the move, it expects to nearly triple its headcount of 22 to about 60 employees within the next five years.
“We are thrilled that Super Star Car Wash has selected North Loop as their new headquarters,” said Matthew Benbassat, COO, Regent Properties — the property’s landlord — in a statement. “Location plays a pivotal role in the success of a service-oriented business and North Loop’s demographics and high visibility were among the factors that attracted this tenant. We expect Super Star Car Wash to enjoy great success here.”
Ashley Brooks and Jasmina Bays of CBRE represented Regent Properties in the lease negotiations. Mark Sunkel of the Hogan Group represented the tenant.
Obsidian on Ocotillo Apartments, a 232-unit apartment complex in Glendale has sold for $56.4 million.
Tower 16 Capital Partners sold the complex after purchasing it in an off-market deal in April 2021, the company said in an announcement. The new buyer is SB Real Estate Partners, who is planning new upgrades at the property.
Tower 16 spent over $2.7 million in renovations and upgrades to the property during its ownership, the company said. 
“We made significant improvements to Obsidian on Ocotillo during our ownership including an entire rebrand of the community,” Tower 16 co-founder Tyler Pruett said in a statement.  “We have now executed three roundtrip investments in the Phoenix market representing nearly $120 million of sale value.” 
Obsidian on Ocotillo Apartments, formerly known as Summerhill Place, is at 6801 W. Ocotillo Road. The property is in the Glendale submarket of Maricopa County, less than eight miles from downtown Phoenix. The property was built in 1986 and consists of 14 buildings on 8.55 acres. Common area amenities include gated access, two pools, laundry facilities, barbecues, a playground and dog park. The project comprises one-bedroom and two-bedroom units including fully equipped kitchens with stoves and ovens, refrigerators, ceiling fans, washers and dryers.
Jesse Hudson, Trevor Koskovich, and Bill Hahn of Northmarq Phoenix advised Tower 16 on the sale.
In an unrelated deal, San Francisco-based Graham Street Realty recently purchased its first Arizona property with five industrial buildings for $27.5 million.
The company, an affiliate of Hamilton Zanze, purchased the Cimmaron Industrial Park on about seven acres in the Scottsdale Airport industrial submarket in late August. The purchase is the company’s fourth industrial acquisition.
The buildings total nearly 100,000 square feet overall and are currently fully leased, according to GSR, which bought the facility from Cimarron Industrial Partners LLC, real estate database Vizzda shows.
GSR said it will retain the in-place property management company, Greater Airpark Realty Services, which will handle daily operations, construction management and property accounting.
The five industrial buildings were developed in 1980 and provide small businesses with industrial suites comprising about 40% office and showroom space and 60% warehouse space.
“The property fits our objective of purchasing real estate in irreplaceable, supply-constrained locations,” said GSR’s Director of Investments Jay Snover in a statement.
And in a separate deal, Tempe-based Menlo Group Commercial Real Estate recently sold three fully leased industrial properties for $2.7 million.
The properties are located at 5624 and 5632 N. 54th Ave. in Glendale and 14391 S. Ave. 2 3/4 E. in Yuma. The three sites total approximately 6.5 acres, according to Menlo Group. The three properties are currently leased by SWP Contracting and Paving.
“We are grateful to see this transaction brought to a successful close,” said Bobby Lall, representative for the sellers, LK Investment Group, LLC, in a statement. “Menlo Group never fails to deliver results.”
Stuart Milne and Tom Ellixson of Menlo Group Advisors represented the sellers in the sales. The buyers, Tri City Ready Mix Inc. and Boyle Family Partnership, were represented by Jim Passey of Passey Realty and Investment.
“We have worked with sellers on a variety of commercial real estate transactions over the years,” Ellixson said. “The Arizona industrial market continues to heat up, and it’s exciting to see investors take advantage of these opportunities.”
Madison Reed is set to open a new hair color bar on Sept. 22 at 2502 E. Camelback Road, Suite 134 in Phoenix. The shop will offer salon-quality hair color services such as root touch-ups, all-over color, gloss treatments, highlights and more.
Madison Reed already has a color bar open in the Valley at 2200 E Williams Field Road, Suite #101 in Gilbert.
The new Bumstead’s Resource Room Powered by Whataburger has opened at Phoenix College.
The student-operated resource room will provide food, supplies and other necessities to students in need.
The resource room is funded through Whataburger’s partnership with Phoenix College and St. Mary’s Food Bank. The room is stocked with perishable and nonperishable food items including canned goods and dairy products, along with toiletries and other everyday needs. Whataburger-branded school supplies such as backpacks and pens, bottled water, hand sanitizer and other similar items also are available. 
“Whataburger is proud to partner with Phoenix College to offer an on-campus resource where students can find the essentials they need,” Whataburger Community Experience Manager Melba Harris said in a statement. “This honors our company’s commitment that no student should ever have to choose between food and books. We’re excited to welcome students to Bumstead’s Resource Room.”
Editor’s note: The real estate deal wrap is published regularly by the Phoenix Business Journal. Send new real estate transactions and retail/restaurant leases to managing editor Erin Edgemon, ee******@bi*********.com.
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