Retail investment sales have been slow. The two sales meeting Reis’ criteria that closed during the second quarter, fetching a combined total of $10.3 million, brought the year-to-date total to $24.9 million for four transactions. The average selling price and mean cap rate year-to-date were $178 psf and 8.5%. The 12-month rolling cap per quarter-end was 7.3%, down from 15.2% a year earlier. The small number of sales, however, diminishes the usefulness of average price and cap rate data. In the second quarter’s largest deal, Aisa LP paid First Credit Bank $5.8 million ($320 psf) in May for the 18,129-square-foot retail property on E. Los Angeles Avenue in Simi Valley.