Development Services


Keystone Corporation is an international real estate development firm headquartered in Raleigh, North Carolina that specializes in the acquisition, development, leasing, and management of a vast range of commercial and residential properties. Founded in 1979, Keystone Corporation operates on the principles of service, integrity and teamwork. 

Under the direction of CEO, J. Patrick Gavaghan, Keystone has successfully developed over seven million square feet of commercial, residential, and industrial space. Building a foundation of trust is critical in establishing a team relationship. Nothing builds trust faster than performance – doing what you say you will do.

With over 39 years of experience, Keystone has developed projects in seven states and five countries. Keystone Corporation has built over 6 million square feet of office space, 7,000 single family lots, 1,500 Class A apartments, 296 townhomes, and 72 condominiums.

Keystone has a broad range of development experience in many different states including Alabama, California, Georgia, North Carolina, South Carolina, Tennessee and Wyoming. In addition, Keystone has developed properties in several countries such as Cayman Islands, Dominican Republic, Honduras, Mexico and Panama.

The company’s ability to deliver premium space has attracted major national and international tenants such as Booz Allen Hamilton, Burt’s Bees, Fidelity, Forbo, Freudenberg, Hitachi, IBM, Isagro, Kohl’s Corporation, CVS Pharmacy, Granger, Affinia NIEHS, Nortel Networks, Sony/Ericsson, Voith and Wyeth, Moore & Van Allen, PLLC, K&L Gates LLP, Sykes, and Pentair, among many other notable companies. 

Keystone also has experience in Public Private Partnerships, most recently at NC State’s Centennial campus.  Keystone’s two buildings and combined 185,000 sf are home to the FREEDM Center, Amphenol, Cengage, BTEC, and the Nonwovens Institute, among others.

Speculative development

Keystone has succeeded in creating investor return through speculative development. Our team partners with leading brokers and market experts to craft deals that meet market demand over various product types. 


We will manage the entire development process, including attaining all governmental approvals, capitalization, architectural and engineering design, bidding and managing our network of experienced general contractors, and general project management. Keystone Corporation has the flexibility to create a deal that works best financially for your firm, including long term lease, lease-to-own, forward sales, or other structures.

Construction management

Every one of our projects is managed by our own in-house construction management team. Working directly with designers, contractors, and tenants we facilitate the entire construction project from the design phase through occupancy.

Property management

All Keystone properties are self-managed; we oversee the maintenance, accounting, and tenant management for all of our properties. Keeping our properties operating in a safe, clean, and orderly environment is our top priority.

Commercial Leasing

Our team of brokers works with tenants and their brokers to find space that meets their needs. If you need space, please contact us and we will be happy to help!