Investment in office properties has been sparse. No sales meeting Reis’ reporting criteria were completed during the second quarter, following only one (for $2.4 million) the quarter before in the wake of five deals all told (for a combined total of $56.6 million) in 2011. The 12-month rolling cap rate per the end of the latest quarter was 7.4%, same as the quarter before, up from 5.8% a year earlier.