The Freeman family, owners of Kemper Development Company, announced Thursday that it is exploring the sale of The Bellevue Collection in downtown Bellevue.The c
The Freeman family, owners of Kemper Development Company, announced Thursday that it is exploring the sale of The Bellevue Collection in downtown Bellevue.
The company said it plans to select a broker soon to begin the sale process. No buyer has been identified.
The Bellevue Collection, which includes Bellevue Square, Bellevue Place and Lincoln Square North and South, will continue to operate normally during the process, according to the company. Community events and cultural programming, including Snowflake Lane, will continue as planned through 2026.
The 5.5 million-square-foot development includes three office towers, three major hotels, luxury apartments, more than 200 stores, restaurants, entertainment venues and two movie theaters.
The family-owned company began 80 years ago with the opening of Bellevue Shopping Square, a 16-store outdoor shopping center. Kemper Freeman took over the company from his father in the mid-1970s and led the redevelopment of Bellevue Square beginning in the 1980s.
The company said Freeman’s retirement last year was among several factors in the decision to explore a sale.
“Our intention is to identify the right buyer for this highly successful portfolio — one who shares the Freeman family’s longstanding regard for the surrounding community and has the capability to further enhance the property,” Kemper Development Company CEO Jim Melby said in a statement.
Melby said the development has generated millions of dollars in tax benefits for the city, created thousands of jobs and supported arts, health, education and family causes across the region.
