A total of $31.0 million changed hands in five transactions in the first half of 2012, at an average selling price and mean cap rate of $124 psf and 7.1%. The 12-month rolling mean cap rate per quarter-end was 5.8%, down from 10.8% a year earlier. In the quarter’s largest sale, largest in a year, Echelbarger Company paid South Hill Manager Inc. $15.0 million ($106 psf) in April for the 142,000-square-foot South Hill Village community center in Puyallup. The list price was $18.5 million. The 1995-built property was 23.0% vacant at time of sale. The center is shadow-anchored by Walmart and Home Depot stores.