Retail property investment sales continue to run slow. Only four transactions meeting Reis’ criteria closed during the first half of 2012 for a combined total of $16.2 million at a high average selling price of $197 psf. In the second quarter’s sole deal, Eagle Matrix LLLP paid Retail Investors LLC $3.1 million ($198 psf) in late May for the freestanding, fully occupied Walgreens building at 2075 Highway 1 in St. Augustine. The 12-month rolling cap rate as of the second quarter was 9.7%, up from 8.9% four quarters prior.