Sperry Commercial Global Affiliates, LLC has announced that Insignia Commercial Real Estate, a leading Phoenix- based brokerage firm, has joined as its newest affiliate in Phoenix. Under the direction of Neil Sherman, Managing Director, Insignia has garnered a highly successful track record of $2.7 billion in closed transactions throughout the Arizona market over the past 32 years. The firm is known for representing buyers and sellers of multifamily, retail, office and land as well as handling sales of non-performing loans and REO properties on behalf of lenders and servicers across the country.
“I believe this represents a fantastic opportunity to combine our team’s market expertise with the 40 plus years legacy of success that Rand Sperry has created. I’ve known Rand and his stellar reputation since the late ‘80s and wanted to be involved early as he builds Sperry Commercial Global Affiliates into a major global brokerage platform,” said Sherman. “I look forward to leveraging the reach and resources of this platform which includes property management, capital markets, equities and advisory services, to the benefit of our clients.
“We look forward to bringing Neil and his team on board as our first Phoenix affiliate to carry the Sperry Commercial Global Affiliates name,” said Rand Sperry, CEO, Sperry Commercial Global Affiliates. “I’ve known Neil for more than 15 years. Over that time, I’ve known him as one of the most active and hard-working brokers in the market. As the go-to broker in the Phoenix market, I’m excited to now bring him into our franchise to further build our brand.”
Sperry Commercial Global Affiliates has been aggressively adding affiliates across the country, including Las Vegas, Phoenix, Los Angeles, St. Louis, Chicago, Alabama and Dallas, further increasing its local market access.
“The Phoenix market has been performing exceptionally well over the past eight or nine years, like most real estate markets across the US. Looking ahead, however, we believe the market will likely begin to level off or even pull back a bit. But that is exactly when investors will need the experience and knowledge of a sophisticated brokerage team,” added Sherman.
The current Insignia team numbers seven brokers and support personnel with plans to grow to 15 to 20 brokers within the next 12 to 15 months. Sherman noted that the firm plans to add a property management platform and a capital markets group over the next year as well.