The $132.1 million in sales generated by 25 transactions completed during the first half of 2012 exceeded the dollar volume accumulated through all of 2011. The total for the second quarter of 2012 alone for eight sales was $52.7 million. The average selling price and mean cap rate for the quarter were $223 psf and 5.3%. The 12-month rolling mean cap rate per quarter-end was 6.4%, down from 6.5% a year earlier. In the latest quarter’s largest deal, the largest in a year, Marketplace LP paid Palm Desert Marketplace LLC $22.85 million ($201 psf) for the 113,729-square-foot Marketplace at Palm Desert community center in Palm Desert. The sale closed in June at a 5.9% cap rate. The property, built in 2007, was 8.4% vacant at sale date.