The $57.1 million exchanged in nine transactions through the first half of 2012 roughly matched the pace set in 2011. The average selling price and mean cap rate year-to-date were $163 psf and 8.3%. The six properties that changed hands during the second quarter alone fetched a combined total of $29.7 million at an average price and
mean cap rate of $161 psf and 7.8%. The 12-month mean rolling cap rate per quarter-end was 8.5%, up from 4.9% a year earlier. In the quarter’s largest sale, third-largest in a year, Village at Robinhood LLC paid NC Holdings LLC $15.9 million ($120 psf) in June for the 132,782-square-foot Village at Robinhood property in Winston-Salem.
Village at Robinhood’s new owner “plans to invest in the retail hub and have it completely leased up within about two years,” the local Business Journal reported in July. Occupancy per the date of the Journal report was about 100,000 square feet. The new owner “is working on deals with five prospective tenants and that he expects to have an additional 10,000 square feet to 15,000 square feet of retail space leased at the center within the next six months,” according to the report.