FORT LAUDERDALE, FL-An investment property leased to Blue Cross/Blue Shield of Florida on a long-term triple net basis has traded for $4.8 million, or $928.43 per square foot. The deal illustrates the continuing strong demand for triple net leased assets.

A private inventory from New York seeking passive, income-producing asset leased to a credit tenant acquired the 5,170-square-foot property. The property is an outparcel to the Sawgrass Mills Mall.

David Sobelman, executive vice president of Calkain, represented the seller of the build-to-suit asset. “This asset, even with its high price per square foot, generated multiple offers from purchasers around the US and from three other countries,” Sobelman says, noting that the asset sold for 99.43% of the asking price.