Image: Kemper Freeman, Jr., then chair and CEO of Kemper Development Co. in Bellevue, stands on a balcony in Bellevue Square. Ellen M. Banner / The Seattle Times, 2016
The Freeman family is exploring the sale of the Bellevue Collection, a 5.5 million-square-foot mixed-use complex in downtown Bellevue that has been under family ownership for 80 years.
The family’s Kemper Development Co. announced Friday that it will begin the process of seeking a potential buyer. The decision follows the retirement last year of Kemper Freeman Jr., who led the company for more than five decades, along with other factors. The family said it is seeking a buyer who values the property’s role in the community and can continue to enhance it.
A broker will be selected to begin the sale exploration process. No buyer has been identified, and the company has not indicated whether a sale is imminent.
Established in 1946, Kemper Development Co. developed what became Bellevue Square. The Bellevue Collection has since expanded to include Bellevue Square, Bellevue Place, Lincoln Square North and Lincoln Square South.
Today, the complex includes more than 200 shops, over 50 restaurants and entertainment venues, 1,100 hotel rooms and 12,500 parking spaces. Tenants include national and international brands as well as local businesses.
Company CEO Jim Melby credited Freeman with developing the property into a major retail and mixed-use destination that has contributed jobs, tax revenue, and community support for arts, health, education, and family-focused organizations.
Kemper Development Co. said operations at the Bellevue Collection will continue as usual during the sale exploration process, with scheduled events continuing through the end of 2026.
