The Freeman family announced Friday, Aug. 28, that it will explore selling The Bellevue Collection, the 51-acre complex at the center of downtown Bellevue.

The property spans 5.5 million square feet of retail, office, hotel and residential space. The family has owned the site since the mid-1940s.

Kemper Development Company, the family's privately held firm, said it plans to select a broker soon to begin the sale process, according to a company statement. No buyer has been identified. No asking price has been disclosed.

The Bellevue Collection encompasses Bellevue Square, Bellevue Place, and Lincoln Square North and South. It includes three office towers, three hotels with 1,100 rooms, luxury apartments, more than 200 stores, two movie theaters and more than 50 dining and entertainment venues.

The three hotels are the Hyatt Regency Bellevue, The Westin Bellevue and W Bellevue.

Kemper Freeman, 84, retired last year as chairman and CEO. KOMO News reported that the company cited several factors in the decision, including Freeman's retirement.

Jim Melby, CEO of Kemper Development Company, said the family wants to find a buyer who values the surrounding community.

"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," Melby said in the announcement.

The company said The Bellevue Collection will continue to operate normally during the process.

Community events, including Snowflake Lane, will continue as planned through 2026. The Bellevue Chamber of Commerce named Snowflake Lane its Signature Experience of the Year in 2026.

The Freeman family opened Bellevue Shopping Square, a 16-store outdoor shopping center, about 80 years ago. Freeman took over from his father in the mid-1970s and led the redevelopment of Bellevue Square starting in the 1980s. 425 Business described the result as one of the country's largest mixed-use destinations.

No timeline for completing a transaction has been announced beyond the broker selection.