Retail property sales have picked up in 2012. The $215.3 million exchanged in 16 transactions during the first half of the year amounted to 80.2% of the dollar volume exchanged in all of 2011. The total for the second quarter for eight transactions was $113.4 million. The average selling price and mean cap rate were $277 psf and 9.1%. The 12-month rolling cap rate per quarter-end was 7.7%, up from 7.3% the quarter before, down from 8.4% as of the second quarter of 2011. In the quarter’s largest sale, largest in a year, L&B Realty Advisors paid Woolbright Development $75 million ($396 psf) for the 189,158-square-foot, 100.0%-occupied Glades Plaza community center in Boca Raton. The deal closed in May at an 8.5% cap rate. The deal was Woolbright’s second largest retail property sale in the county since March.