There were five office sales recorded in the second quarter that met Reis Transaction Analytics Criteria.* This is quite a jump for this market, as there were no sales in the first quarter and seven for all of 2011. The five sales totaled $311.1 million in sales volume, already exceeding the $141.7 million recorded for all of 2011. The mean price is $221 psf. The mean cap rate for the quarter’s sales was 7.7%; the 12 month rolling cap rate was 7.8%. The lead sale of the quarter was the June sale of Hearst Tower, at 970,000 square feet for $250 million ($258 psf).