REAL ESTATE

Shelbourne Global Solutions has purchased the Spring Street Innovation Center in New Providence from Mountain Development Corp. for $23 million, Newmark Knight Frank announced. NKF Executive Managing Director Kevin Welsh, Managing Director Brian Schulz and Associate Chuck Kohaut of the commercial real estate advisory firm’s Tri-State Capital Markets team in Rutherford represented Woodland Park-based Mountain Development and procured the buyer in the sale for the 171,216-square-foot property at 41 Spring St. … Read more at NJ Biz.