Keenan Development

What Keenan Development does

Keenan Development Group is a privately held, family-owned commercial real estate development firm founded in 1985 and headquartered in Fort Lauderdale, Florida. The company specializes in build-to-suit development with an emphasis on Class A office and industrial properties, primarily serving institutional and educational tenants on a turnkey basis. Its platform spans site acquisition, development structuring, construction, leasing, and ongoing property management, executed across operating subsidiaries including Chinook Construction (a construction affiliate established in 1987) and Keenan Properties (the property management arm).

The firm controls a stabilized portfolio comprising 750,000+ square feet of Class A office space and 850,000+ square feet of industrial space, with project activity funded in part by more than $50 million of equity raised to support developments approaching $250 million in aggregate value — implying a capital-partner model in which Keenan sources and structures deals while co-investing alongside equity providers. Revenue mechanics combine rental NOI on retained stabilized assets, development and promote economics on each new build-to-suit mandate, and construction revenue captured internally through Chinook.

Keenan's commercial relationships are anchored by a 20+ year partnership with Keiser University, which serves as the anchor tenant across the majority of its properties through successive purpose-built campus deliveries (including Pegasus PSL in 2017, Neptune Naples in 2020, and Prometheus Port Richey in 2021). Beyond its Florida core, the firm has extended operations into North Carolina and into British Columbia, Canada, where it is associated with mountain-resort development including Revelstoke Mountain Resort. The company is led by President Bill Keenan and CFO Dale Chynoweth, and employs between 11 and 50 people.

Name

Keenan Development

Legal name

Keenan Development Group

Website

https://keenandev.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Keenan Development Group is a family-owned Florida-based commercial real estate firm founded in 1985, specializing in build-to-suit Class A office and industrial development anchored by Keiser University across the southeastern US and British Columbia.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development & Property Management

NAICS

Real Estate Property Managers (53131), Rental and Leasing Services (532), Lessors of Other Real Estate Property (53119)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC)

akta.pro secondary industries

Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

Keywords

• Commercial real estate development
• Property construction services
• Property management leasing
• General contracting services
• Build-to-suit development

Headquarters

HQ city

Fort Lauderdale

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Property Development Services: Custom property development services for commercial, residential, and resort properties. Revenue generated through development fees, equity participation, and property sales.
2. Construction Services: General contracting services through subsidiary Chinook Construction (Florida-certified general contractor since 1987) for residential, industrial, commercial and resort properties.
3. Property Management & Leasing: Property management services for owned and third-party properties, including POA management for business parks. Leasing services for office spaces and executive suites.
4. Property Ownership & Rental Income: Own and operate commercial properties generating recurring rental income from office space, industrial space, and residential apartments.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Keenan Development Group provides vertically integrated commercial and residential real estate services spanning property development, design/build construction (through subsidiary Chinook Construction), property management and leasing (through Keenan Properties), and project financing for clients across Florida, the broader United States, and Canada. The firm also owns and operates a portfolio of Class A office, industrial, and residential assets including 750,000+ square feet of managed office space and 600+ apartments.

Product overview

Keenan Development Group operates as a unified property development and management platform offering three integrated service lines: Development Services (property development and financing), Chinook Construction (Florida-certified general contractor for new construction and renovations since 1987), and Keenan Properties (property management and leasing). The company also provides Executive Suites at Lakewood Ranch, a fully-serviced office solution. Their core business involves acquiring, developing, constructing, owning, and managing commercial real estate properties, primarily Class A office buildings and educational facilities throughout Florida, with a portfolio exceeding 750,000 square feet of managed office space.

Differentiator

Problem solved

Functional benefit

Brands

• Chinook Construction: Florida-certified general contractor subsidiary specializing in new construction and office renovations for residential, industrial, commercial and resort properties since 1987.
• Keenan Properties

Products and services

• Development Services End-to-end property development services including site acquisition, design, construction management, financing, leasing, and ongoing ownership for commercial, residential, and resort properties throughout the United States and Canada. Targets commercial property owners, educational institutions, and resort developers seeking build-to-suit and turnkey development.
• Chinook Construction (General Contracting & Renovation) Florida-certified general contracting services delivered through wholly-owned subsidiary Chinook Construction (operating since 1987), providing new construction, office renovations, and tenant improvements for residential, industrial, commercial, and resort properties across the United States and Canada.
• Keenan Properties (Property Management & Leasing) Property management and leasing services for commercial and residential properties throughout Florida, including POA management for commercial business parks such as Spectrum Business Park and Forum Corporate Park and direct leasing of office space and executive suites at Keenan's owned properties.
• Executive Suites at Lakewood Ranch Fully furnished executive office suites and virtual office services in Sarasota, Florida (Lakewood Ranch at 6151 Lake Osprey Drive), including high-speed fiber optic internet, VoIP telecom, video conferencing equipment, meeting rooms, and administrative services for business professionals and small teams.
• Currently Owned & Managed Properties Portfolio Portfolio of 14 Class A commercial properties currently owned and managed by the firm in Florida — Neptune Naples, Prometheus Port Richey, Venus Investment Properties, Delphi Fort Myers, Demeter Pembroke Pines, Olympus Lakeland Phases I & II, Athena Vista Phases I & II, Interstate Commerce Center, University Commons Office Center, Nineteen Hundred Building, Spectrum 1500 Building, and Pegasus PSL — totaling 750,000+ square feet, available for tenant occupancy and ongoing management.
• Construction & Renovation Project Services Ground-up construction, tenant improvements, and renovation project delivery for institutional, educational, and commercial clients — including Keiser University campuses, Southeastern Institute (Charlotte, NC, 30,000 SF build-out), Interstate Commerce Center, and similar projects across Florida.

Quantifiable outcome

• Constructed and owned 600+ apartments in South Florida and 50 in Canada
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Chinook ConstructioncoreImplementation/ SI/ Consulting Partner · 1 January 1987Florida-certified general contractor subsidiary operating since 1987. Specializes in new construction and office renovations throughout the United States and Canada. Led by VP Construction Jim Bachman since 1989. Accomplishes work through dedicated subcontractors. General contractor for all Keenan Development projects.
• Keiser UniversitycoreStrategic or Co-development Partner · 1 January 198520+ year strategic partnership for property development and construction. Keenan Development serves as primary developer for Keiser University campuses throughout Florida. Joint venture entities established for property acquisitions and development projects including Delphi Fort Myers Ltd., Venus Investment Properties Ltd., and Hemera Fort Myers Ltd. Keiser is the anchor tenant across most properties.
• NAI Rauch Weaver Norfleet Kurtz & Co.minorChannel Partner/ Reseller/ DistributorReal estate brokers Michael Scarpino and Jennifer Scarpino represented buyer Demeter Pembroke Pines (affiliate of Keenan Properties Group) in the $4.66 million Pembroke Pines land purchase.
• CB Richard EllisminorChannel Partner/ Reseller/ DistributorBroker Richard Levinson represented seller Duke Realty Corp. in the Pembroke Pines land transaction.
• Land Solutions Inc.minorChannel Partner/ Reseller/ DistributorRandy Thibaut, William Rollins and Janie Hooker of Land Solutions Inc. handled the Fort Myers Forum Corporate Park land transaction.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• The Related Group: Major Florida-based real estate developer with significant apartment, condominium, and mixed-use portfolio. Comparable as a Florida-focused property developer/owner with construction capabilities and management operations.
• The Continental Group: Large Florida-based property management firm serving condominium, HOA, and commercial portfolios. Comparable on the property management and association management side of Keenan's business.
• Bainbridge Companies: Florida-headquartered multifamily developer, owner, and manager with vertically integrated development, construction, and property management. Comparable model of build-and-hold multifamily/Class A assets in the Southeast.
• Stiles Corporation: Fort Lauderdale-based, vertically integrated commercial real estate firm offering development, construction, property management, and brokerage across Florida. Closely comparable to Keenan in geography, full-stack model, and Class A office focus.

Others

• Suffolk Construction: Major national general contractor with strong Florida presence serving commercial, education, and hospitality clients. Comparable as a construction execution partner, though Suffolk is a pure GC without Keenan's ownership/development layer.

Broad incumbents

• Lincoln Property Company: National multifamily developer and third-party property manager with significant Florida exposure. Comparable in development plus property management verticals, though larger and more diversified geographically.
• Greystar Real Estate Partners: Global leader in multifamily property management, development, and investment with major Florida portfolio. Comparable on apartment management and development, though at significantly larger scale.
• Trammell Crow Company: National commercial real estate developer with office, industrial, and multifamily capabilities. Comparable on the Class A office and industrial development side, though operating at much greater scale and capital base.

Emerging players

• The NRP Group: Multifamily developer, builder, and property manager focused on affordable and market-rate apartments across the Southeast. Comparable as a vertically integrated developer/owner/manager with similar property type exposure.
• Wood Partners: National multifamily developer with significant Southeast U.S. footprint, providing development, construction, and property management. Comparable as a build-to-suit developer serving institutional and educational tenant profiles.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Keenan Development