PrintTimeline of Keystone Corporation
August 4, 1977
Keystone Founded by President and CEO, J. Patrick Gavaghan.
1979 - 1989
Keystone Corporation develops several residential subdivisions in North Carolina, South Carolina, Georgia, Alabama and Tennessee.
1984-1994
Keystone becomes an international and diversified real estate developer constructing build-to-suit industrial factories in Honduras, Mexico, Panama and North Carolina, USA.
May 1984
Keystone Corporation develops Regency Park, Regency Offices and Regency Fitness Center in Wilson, North Carolina.
September 1984
J. Patrick Gavaghan, president of Keystone Corporation, purchases 178 acres of land in Research Triangle Park, NC. This land becomes the future site of Keystone Park, a commercial mixed use development of Class A offices, single story R&D and warehouse space.
August 23, 1989
Keystone Corporation purchases 16.98 acres and develops Windemere, a 168 apartment home community in Raleigh, NC.
December 18, 1991
The Stratford, a 247 apartment home community, is built in Cary, NC.
September 1993
Cambridge, a 180 apartment home community, is built in Raleigh, NC.
April 10, 1994
Warehouse A is built on 8.93 acres at Keystone Park in RTP, NC.
January 10, 1995
Keystone Corporation sells The Stratford, a 247 apartment home community in Cary, NC, to Stratford Investors, LLC.
April 20, 1995
Cedar Springs, a 180 apartment home community consisting of 15 three-story buildings, is constructed in North Raleigh, NC.
April 25, 1995-December 31, 2003
Keystone Corporation constructs 2 million square feet of warehouse, R&D single-story offices and Class "A" offices at Keystone Park. Keystone Corporation becomes one of the Research Triangle Park's area leaders in Commercial development, attracting some of the world's top companies including IBM, EISAI Pharmaceuticals, Ericsson, Extreme Networks, Nortel, Network Appliance and Philips Electronics.
August 10, 1995
Warehouses B & C, each totaling 136,000 sf, are built on 9.68 and 6.89 acres respectively in Keystone Park RTP, NC.
December 1995
Keystone Corporation purchases the future site of Walden Creek, 87 residential lots in Apex, NC. Keystone develops the basic infrastructure of road, water and sewer.
April 15, 1996
Keystone Corporation sells Windemere, a 168 apartment home community in Raleigh, NC, to Sentinel Acquisitions Corporation.
August 6, 1996
Keystone Corporation sells Cambridge, a 180 apartment home community in North Raleigh, NC, to Sentinel Acquisitions Corporation.
April 25, 1997
523 Davis Drive (Technology I), a single-story R&D building encompassing 76,785 square feet, is constructed at Keystone Park, RTP, NC.
July 28, 1997
Warehouse D, 128,000 sf, & Warehouse E, 136,000 sf, are constructed on 7.09 and 8.69 acres respectively in Keystone Park, RTP, NC.
July 28, 1997
511 Davis Drive (Technology II), a single-story R&D building totaling 75,907 square feet, is constructed at Keystone Park, RTP, NC.
December 31, 1997
The Triangle Business Journal awards Keystone Park the "Top Development of the Year" award.
1998
Keystone Park: Warehouses at 324 Park Knoll Drive and 619 Distribution Drive are sold.
January 21, 1998
407 Davis Drive (Technology III) and 419 Davis Drive (Technology IV), single-story R&D buildings encompassing 81,956 and 77,260 square feet respectively, are constructed at Keystone Park, RTP, NC.
February 7, 1998
The Village at Umstead Park, a 72 townhome community, is built in Raleigh, NC. Keystone Corporation develops Four Seasons at Umstead Park, 248 apartment homes located next to Umstead Park in Raleigh, NC.
May 1998
Keystone Corporation sells Cedar Springs, a 180 apartment home community in Raleigh, NC, to GAWR, LLC.
July 24, 1998
615 Davis Drive (Technology V) and 617 Davis Drive (Technology VI), single-story R&D buildings totaling 68,095 and 55,194 respectively, are constructed at Keystone Park, RTP, NC.
November 11, 1998
630 Davis Drive, a 2-Story Office Building encompassing 63,144 square feet, is constructed at Keystone Park, RTP, NC.
1999
Keystone Park: Warehouse at 701 Distribution Drive is sold.
January 7, 1999
Keystone Corporation begins construction on HighGrove Townhomes, a 48 townhome community in Chapel Hill, NC.
February 16, 1999
Featuring 192 apartment homes and 72 condos, Keystone breaks ground on "The Links" apartments and condos. Located on 30.6 acres, this development is Raleigh's first mixed use, multi-family community.
June 25, 1999
627 Davis Drive (Technology VII) and 629 Davis Drive (Technology VIII), single-story R&D buildings totaling 87,092 and 94,915 square feet respectively, are constructed at Keystone Park, RTP, NC.
December 1999
Keystone Corporation begins the entitlement process on 530 acres of land in Patterson, California with plans to build a 1,000 lot residential subdivision with 20 acres of retail on 305 acres and a 225 acre business/industrial park.
December 31, 1999
Keystone Park receives the "Commercial Real Estate for Women's Champion Award" for the best flex buildings in the Triangle region of North Carolina.
2000
Keystone Park: Warehouse at 323 Park Knoll Drive is sold.
March 28, 2000
633 Davis Drive (Technology IX), a single-story R&D building encompassing 75,257 square feet, is constructed at Keystone Park, RTP, NC.
June 6, 2000
530 Davis Drive, a 3-Story Office Building totaling 72,082 square feet, is constructed at Keystone Park, RTP, NC.
June 8, 2000
635 Davis Drive (Technology X), a single-story R&D building encompassing 78,167 square feet, is constructed at Keystone Park, RTP, NC.
September 27, 2000
637 Davis Drive (Technology XI) and 639 Davis Drive (Technology XII), single-story R&D buildings encompassing 60,033 square feet each, are constructed at Keystone Park, RTP, NC
2001
Keystone Park: Warehouse at 627 Distribution Drive is sold.
February 16, 2001
Keystone purchases an additional 71 acres development at Keystone Park, RTP, NC.
February 27, 2001
Construction begins of 430 Davis Drive, a 5-Story Class “A” Office Building encompassing 152,366 square feet, at Keystone Park, RTP, NC.
May 2001
All 87 residential lots with custom built homes are sold at Walden Creek, Apex, NC.
October 24, 2001
Keystone Corporation purchases 3.69 acres in Raleigh, NC and develops Waterford Square, a community of 26 exquisite townhomes.
January 1, 2002-December 31, 2002
Success at Keystone Park attracts national corporations including Sony Ericsson, Harris Corporation and Wyeth Pharmaceuticals. Cirrus Pharmaceuticals completes a major expansion at Keystone Park.
May 30, 2002
Keystone Corporation sells Four Seasons at Umstead Park, a 248 apartment home community located in Raleigh, NC, to Vanmark Investments, LLC.
December 15, 2002
601 Davis Drive (Technology XV), a single-story R&D building, is constructed at Keystone Park, RTP, NC.
December 31, 2002
HighGrove Townhomes, a 48 townhome community, wins the 2002 Parade of Homes Silver Award for its prestigious McCauley floor plan for the Raleigh, Durham and Chapel Hill area in NC.
February 4, 2003
Keystone Corporation purchases 9.8 acres in Cary, NC, and develops Georgian Village at Cary Park, a 31 townhome community featuring the Triangle’s first ranch-style townhomes.
April 2003
Keystone receives all entitlement approvals for the future sites of Patterson Gardens and Keystone Pacific Business Park, which combined total 305 acres in Patterson, CA.
June 18, 2003
Keystone Corporation breaks ground on Flex I, 3 commercial flex buildings totaling 72,000 square feet of spec space. Over 300 city, county and state officials are in attendance at the Keystone Pacific Business Park flex building ground breaking in Patterson, CA.
October 28, 2003
William Lyon Homes purchases 22.70 acres at Patterson Gardens for development of 87 residential lots in Patterson, CA.
November 14, 2003
Grupe Homes purchases 60.8 acres at Patterson Gardens to build 216 luxury residential homes along a 16 acre man-made lake in Patterson, CA.
January 1, 2004-December 31, 2004
Keystone Park signs new leases with Hitachi, IBM, Kowa, Molex International, Moore and Van Allen and Starsys Research. Harris Corporation, Ramar, Department of Veterans Affairs and Oriel Therapeutics expand their leases at Keystone Park.
January 15, 2004
Keystone develops and builds two large, high-end luxury log cabin mountain resort homes in Teton Village, Jackson Hole, Wyoming.
February 2, 2004
Shea Homes purchases 42.77 acres at Keystone’s Patterson Gardens for development of 199 residential lots in Patterson, CA.
March 31, 2004
Morrison Homes purchases 53.92 acres at Keystone’s Patterson Gardens for development of 214 residential lots In Patterson, CA.
April 21, 2004
Keystone Corporation sells the 20 acre retail site at Patterson Gardens in Patterson, CA.
May 4, 2004
Keystone breaks ground on Patterson Gardens, a 1,000 residential site, in Patterson, CA. Keystone Corporation prepares the basic infrastructure of spine roads, water and sewer.
May 28, 2004
Jonathan Homes purchases the 16,647 square foot flex building at Keystone Pacific Business Park in Patterson, CA.
June 2, 2004
Ryland Homes purchase 42.77 acres at Patterson Gardens for development of 199 residential lots in Patterson, CA.
August 31, 2004
All 1,000 lots of the Keystone California residential subdivision, Patterson Gardens, sell out to national/regional builders including: Grupe, Jonathon Homes, John Laing Homes, Morrison, Ryland, Shea Homes and William Lyon Homes.
December 31, 2004
Keystone Park in RTP, NC receives the 2004 Environmental Improvement Award of the Year for Landscape Maintenance.
March 2, 2005
Keystone develops 6.22 acres at Keystone Pacific Business Park and begins construction of an additional 72,000 square feet of flex space (Flex II Buildings). Keystone sells 16,000 sf to Patterson Unified School District for administrative offices in Patterson, CA.
April 1, 2005
Frontier Communications, formerly Global Valley Networks, purchases 2.5 acres at Keystone Pacific Business Park and constructs a 16,000 square foot facility for its new headquarters in Patterson, CA.
May 23, 2005
Keystone Corporation closes on the sale of 62.1 acres to Kohl’s Department Stores at Keystone Pacific Business Park in Patterson, CA. The Wisconsin based Kohl's breaks ground on its 675,000 square foot warehouse/distribution center.
May 26, 2005
Keystone Corporation purchases 125 acres directly west of Keystone Pacific Business Park for future industrial development in Patterson, CA.
July 6, 2005
Keystone Corporation closes with Longs Drugs to purchase 51.78 acres at Keystone Pacific Business Park in Patterson, CA. Longs Drugs begins construction on a 1,000,000 square foot distribution center.
September 26, 2005
Keystone Corporation purchase 70 acres in Durham, NC for future development of Rustica Oaks, a 278 single-family home community.
November 30, 2005
The City of Patterson purchase 2.5 acres at Keystone Pacific Business Park to develop a new 15,000 square foot Fire Station for the Patterson community.
January 31, 2006
Keystone Corporation sells Keystone Technology Park, twelve single-story/R&D buildings totaling 890,694 square feet in RTP, NC, to Guggenheim Partners of Boston Massachusetts.
March 7, 2006
Keystone Crossing is a mixed use residential development encompassing 49 acres and consisting of 192 single-family homes and 188 townhomes in Durham, NC. Keystone Corporation prepared the basic infrastructure of roads, water and sewer.
May 24, 2006
Monogram Real Estate, LLC purchases a 7,800 square foot luxury log cabin mountain resort home in Jackson Hole, Wyoming from Keystone Corporation.
September 5, 2006
Keystone Corporation completes the first phase of Georgian Village at Cary Park, a 31 townhome community in Cary, NC. Plans and approvals get underway to begin the second phase of this townhome community.
November 14, 2006
Wilshire Secured Holdings, LLC purchases The Links Apartment Community (192 Apartments) from Keystone Corporation, Raleigh, NC.
December 11, 2006
Keystone Corporation sells 601 Davis Drive, Technology Building XV in RTP, NC, which encompasses 77,395 square feet, to Alexandria Real Estate Equities.
December 31, 2006
Keystone Corporation’s sale of 12 single-story R&D buildings at Keystone Park receives The Triangle Business Journal’s Space Awards for Top Sales Transaction.
March 9, 2007
Keystone Corporation purchases Keystone Ranch, 95 acres zoned for residential development in Patterson, CA.
May 2007
Keystone Corporation closes sale of three Class “A” office buildings, approximately 287,600 square feet, at Keystone Park, RTP, NC to Americas Capital Partners of Tysons Corner, Virginia.
May 31, 2007
Keystone Corporation purchases a 7,020 square foot commercial office building on 1.45 acres in Lillington, NC. The current tenant, Fresenius Bio-Medical Applications of North Carolina, Inc., is using the building as an outpatient dialysis facility with related office and administrative uses.
August 15, 2007
McShane Corporation purchases 123 acres at Keystone Pacific Business Park for development of commercial spec buildings ranging from 530,000 sf to 840,000 sf in Patterson, CA.
November 2007
Plans and approvals get underway to begin the second phase of Georgian Village at Cary Park in Cary, NC. Phase II will consist of 31 additional townhomes that will complement the original 31 townhomes developed in Phase I.
December 21, 2007
Westfalia Separator, Inc. purchases the 23,875 square foot flex building at Keystone Pacific Business Park, which will result in the creation of 50 new jobs in Patterson, CA.
March 15, 2008
HPL Contract relocates its headquarters to Patterson, CA, and purchases the 31,067 square foot flex building at Keystone Pacific Business Park.
Spring 2008
Rustica Oaks, a 278 single-family home site located on 70 acres in Durham, NC, is scheduled to begin construction in the spring of 2008.