Cushman & Wakefield announced that Ironline Partners has purchased 1.98 acres of land at the northeast corner of Central and Columbus Avenues for $3 million.

Vice Presidents Will French and Brian Rosella with Cushman & Wakefield negotiated the sale transaction.

Ironline Partners purchased the distressed parcel from MidFirst Bank and has not announced its development plans for the land.

“This is one of the last land parcels along the light rail corridor in midtown Phoenix,” said Mr. Rosella. “The submarket has made an incredible comeback since the economic downturn, and Ironline Partners will benefit from the resurgence. Situated in the heart of Midtown, the property offers frontage on three streets and a lighted intersection. It will be exciting to see what the buyer will create on this highly visible site.” The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.