Freeman Family, Owners of Kemper Development Company, to Explore Sale of The Bellevue Collection

 Bellevue, Wash. company to select broker to begin the sale process

BELLEVUE, Wash.—Aug. 28, 2026—The Freeman family, owners of Kemper Development Company (KDC), today announced their decision to explore the sale of The Bellevue Collection, one of the country’s largest mixed-use retail, dining, residential, hotel, office and entertainment destinations located in downtown Bellevue, Wash.

KDC plans to select a broker shortly to begin the sale exploration process. The Bellevue Collection will continue to operate normally. Community events and cultural programming, including Snowflake Lane, will continue as planned through 2026.

"Kemper always believes that a great development is measured by more than square footage or revenue; it's measured by the life it brings to a community. He wants Bellevue and the Eastside to be a wonderful place to live, work and raise a family. He has created one of the country’s premier retail and mixed-use destinations — a place that has strengthened the surrounding community through millions of dollars in tax benefits for the city, thousands of jobs, and generous support for arts, health, education and family causes throughout the region. We are proud of what this legacy represents for our community,” said Jim Melby, CEO of Kemper Development Company.

The family-owned company was founded 80 years ago with the opening of Bellevue Shopping Square, an outdoor, 16-store shopping center. With over five decades of Kemper Freeman at the helm, the family has grown the company into The Bellevue Collection, encompassing Bellevue Square, Bellevue Place and Lincoln Square North and South. Today, the company remains privately held and family operated.

Several factors played into the decision, including Kemper Freeman’s retirement last year. Since taking over the business from his father in the mid-1970s, Kemper has been the visionary behind the transformational redevelopment of Bellevue Square since the 1980s—evolving it from a small open-air center into the retail anchor of today’s 5.5 million-square-foot destination which includes three office towers, three major hotels, luxury residential apartments, more than 200 stores, restaurants and entertainment venues, and two movie theaters. The passion, vision and willingness to take calculated risks required to create and continually evolve one of the nation’s premier mixed-use projects is rare and carrying that legacy forward is a significant responsibility. This was a multi-faceted business decision about the right path forward. The family’s 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.

Visit bellevuecollection.com for more information on The Bellevue Collection or kdc.bellevuecollection.com for more information on KDC. 

About The Bellevue Collection/Kemper Development Company
Located in the heart of Bellevue, Wash., The Bellevue Collection is comprised of four developments owned by family-operated Kemper Development Company and affiliates. The first is Bellevue Square, a super-regional upscale shopping center and restaurants, which is joined by Bellevue Place, a mixed-use property featuring offices, the Hyatt Regency Bellevue and small boutiques. The third development, including Lincoln Square North and South, is anchored by Cinemark & Cinemark Reserve Lincoln Square, The Westin Bellevue, W Bellevue, restaurants and home furnishing stores, along with premier office space and luxury high-rise residences. Combined, The Bellevue Collection features more than 200 shops, The Dining District with over 50 restaurants and entertainment venues, 1,100 luxury hotel rooms and 12,500 free retail parking spaces all in one place—making it the region’s largest shopping, dining, nightlife and entertainment destination. For more information, visit bellevuecollection.com or follow on Facebook, Instagram, or X. 

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