Boston-based Great Island Development has sold the 153,935-square-foot North Reading Plaza to RK Centers for $11.6 million.

The property, anchored by Walmart, is currently 98 percent leased to national tenants, including Marshalls and Dollar Tree. Cushman & Wakefield’s capital markets team of Robert Griffin, Geoffrey Millerd and Justin Smith represented the seller.

The shopping center is located along the Route 28 corridor near interstates 93 and 95 in North Reading.

"Cushman & Wakefield was able to sell North Reading Plaza on an abbreviated time frame due to the favorable market conditions of the area," said Ben Devine of Great Island in a statement.

The plaza is situated on more than 22 acres within the Route 128 North submarket

Cushman & Wakefield reports fourth quarter year-to-date leasing activity in the Route 128 North corridor at more than 1.8 million square feet, with the lowest vacancy rate of all suburban submarkets at 13 percent.