Development Services


Keystone Corporation has developed build-to-suit projects for an array of clients. These projects have included research & development buildings, lab space, and office space. Our clients have included both Fortune-500 and private companies, such as, Pentair, FREEDM Systems Center, The Nonwovens Institute, IBM, and others. 

Keystone Corporation will customize a solution to fit your exact needs. We will manage the entire development process, including attaining all governmental approvals, sourcing of all financing needs, architectural and engineering design, utilizing our existing network of experienced general contractors, and the construction of the project. Keystone Corporation has the flexibility to create a deal that works best financially for you, including long term lease, lease-to-own, or even a forward sale.

If you need a new facility developed to fit your needs, please contact us.

Keys to Success

Buying, selling, and leasing in commercial real estate requires more than experience – it takes creativity. Managing property and retaining tenants depends on more than oversight – it demands consistent, personal contact, and in today’s complex economy, spearheading commercial development projects calls for more than construction expertise – it takes vision and proven resources. As a diversified real estate company, Keystone Corporation builds, owns and manages a range of high-end developments, specializing in industrial/commercial, multi- and single-family residential projects. Our passion is taking a raw piece of land, envisioning a structure that will serve a business and the community, and then making that vision into a reality. Simply put, Keystone Corporation is in the business of recognizing a need and fulfilling it with creativity, vision, experience and resources. 

Overview and philosophy

Keystone Corporation is an international real estate developer 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 owner and President, 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. This is a guiding principle in our every action. 
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 commitment to excellence has enhanced its ability to attract 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 plus two of North Carolina’s largest law firms, Moore & Van Allen, PLLC and K&L Gates LLP.

At NC State’s Centennial Campus, Keystone has developed two Class-A Research and Development facilities. The unique atmosphere of NC State’s Centennial campus combines the talent and skills from a World Class Research University, NC State University, with the industry leaders of engineering, industry, and life sciences, such as Amphenol, Cengage, BTEC, and the Nonwovens Institute. The Keystone Science Center is approximately 78,500 square feet valued at approximately $25 Million - $30 Million, and the new Center for Technology and Innovation is 110,000 square feet valued at approximately $45 Million - $50 Million.