MIAMI—A single-tenant retail property leased to CVS just traded hands. 144 E 24^th Street Corp. grabbed the net lease asset from CPAC Coral Springs for $6.3 million.

The net lease property sits at 10425 West Sample Road in Coral Springs, FL. CBRE's David Donnellan, Mark Drazek, and Todd Weintraub, represented the seller in the deal.

"This newly constructed CVS is extremely well positioned on heavily traveled Sample Road, bordering the western edge of the planned redevelopment of the Coral Springs Downtown District," says Donnellan, senior vice president with CBRE.  The sale included a 2.5-acre parcel located at the northeast corner of Sample Road and Coral Springs Drive, a prime intersection in northwestern Broward County.

"CVS continues to be a highly sought-after single-tenant, net-leased investment," says Drazek, senior vice president at CBRE. "The low capitalization rate achieved for this deal is reflective of the strong demand that continues for investment-grade tenants on long-term leases."

The parcel is subject to a 25-year triple-net ground lease with CVS. The newly constructed 12,430-square-foot pharmacy with drive-thru lanes opened for business in November 2015.

Net lease assets are some of the most predictable and typically, long term commercial real estate assets available in today's market. So says David Sobelman, executive vice president and managing partner at Calkain. Sobelman says brokers rule.

"Well, that may be a little biased but its clear brokers have survived every market in the modern era," Sobelman tells GlobeSt.com. "A complete abolishment of the brokerage industry is unlikely, but a change in its focus is inevitable."

Want more insights into the net lease market? Read my recent column: Four Big Net Lease Challenges by 2050.