What Kemper Development Company does

Kemper Development Company is a fifth-generation, family-owned real estate developer, owner, and operator headquartered in Bellevue, Washington. Founded in 1946 by F. Kemper Freeman Sr. as a 20-store open-air shopping center, the company has evolved into the steward of The Bellevue Collection, a 5.5 million square foot integrated mixed-use portfolio comprising Bellevue Square (1.3 million sf of premium retail anchored by the top-performing Nordstrom in the United States), Lincoln Square (480,000+ sf of retail, dining, entertainment, hotels, office, and residential), and Bellevue Place (a 21-story, 450,000 sf Class A office tower with the 733-room Hyatt Regency Bellevue). The Collection also includes 200 Lincoln Square (710,000 sf of Class A office), Two Lincoln Tower (luxury residential), the W Bellevue and The Westin Bellevue, 80+ dining and entertainment venues, and 12,500 parking spaces.

The company's business model centers on long-term ownership, development, and direct property management of this Bellevue submarket portfolio, with revenue generated through office leasing (1.7 million sf Class A across Bellevue Place, Lincoln Square North, and 400 Lincoln Square), retail leasing (200+ brands ranging from Tiffany & Co. and Burberry to emerging labels), hotel ground leases and operations, luxury residential rents (360 units), parking, and signature event-driven footfall (Snowflake Lane, Fashion Week, Lunar New Year). Office leasing is brokered through the Broderick Group and direct leasing representatives Jana Koeberle and Katie Perkins. Notable office tenants include Smartsheet (HQ), Merrill Lynch, Bank of America, Samsung Electronics America, Unity Technologies, WeWork, D.A. Davidson, and Paramount Hotels.

Kemper is privately held by the Freeman family with no PE or VC backing, maintains a lean staff of 101–250 employees, and operates exclusively within the Eastside / Puget Sound region of Washington State. The company is in active expansion mode, having submitted plans in 2021 for "The Bellevue," a $1 billion, 1.8 million sf four-tower mixed-use development that would extend the existing portfolio. Operational differentiators include sky-bridge connectivity between properties, access from all three major Puget Sound freeways (I-405, I-90, SR-520), and 80+ years of placemaking expertise — though the company does not employ AI/ML capabilities or proprietary technology platforms beyond standard real estate development and property management tooling.

Name

Kemper Development Company

Legal name

Kemper Development Company

Website

https://kdc.bellevuecollection.com

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

101–250 employees

Short description

Kemper Development Company is a fifth-generation, family-owned developer and operator of The Bellevue Collection, a 5.5 million square foot mixed-use portfolio in Bellevue, WA comprising retail, office, hotel, and residential properties serving tenants, consumers, and businesses in the Pacific Northwest.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Lessors of Real Estate (5311), Real Estate Property Managers (53131), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Residential Property Managers (531311)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Operators (No Developers) & Lessors (6510), Land Subdividers & Developers (No Cemeteries) (6552), Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Operators Of Apartment Buildings (6513), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Single-Family Rental (SFR) Property Management (BPAJAFAB)

akta.pro secondary industries

Corporate / Executive Housing Management (BPAJAFAK), Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL), Resort & Branded Residence Vacation Rental Management (BPAJAIAE)

Keywords

• Mixed-use real estate
• Commercial property development
• Office leasing services
• Retail leasing services
• Property management services

Headquarters

HQ city

Bellevue

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Others

Distribution channels3 records

Marketing channels4 records

Core offering

Kemper Development Company develops, owns, and manages The Bellevue Collection, a 5.5 million square foot mixed-use commercial real estate portfolio in Bellevue, WA, comprising retail (1.3 million sf at Bellevue Square with 200+ brands), Class A office space (1.7 million sf across Bellevue Place, Lincoln Square North, Lincoln Square South), 80+ dining and entertainment venues, three luxury hotels with 1,315 guestrooms, and 360 luxury residential homes. Revenue derives from commercial leasing (office and retail), property management services for tenants, and rental income from hotel and residential operations, all integrated within a single connected campus linked by sky bridges and tunnels.

Product overview

Kemper Development Company operates The Bellevue Collection, a single unified mixed-use property portfolio rather than a software platform. The portfolio consists of interconnected retail, dining, entertainment, office, hotel, and residential properties, including Bellevue Square (primary retail), Lincoln Square (mixed-use with entertainment), and Bellevue Place (office/hotel/retail). Supporting services include office leasing across 1.7 million sf of Class A office space and retail leasing for 200+ brands. The properties are connected by sky bridges and tunnels, creating a walkable urban campus.

Differentiator

Problem solved

Functional benefit

Brands

• Bellevue Square: Major retail driver of The Collection, featuring 1.3 million square feet and over 200 contemporary, upscale and luxury brands.
• Lincoln Square
• Bellevue Place
• Two Lincoln Tower

Products and services

• The Bellevue Collection A 5.5 million square foot mixed-use portfolio in Bellevue, WA comprising retail, dining, entertainment, office, hotel, and residential properties connected by sky bridges and tunnels, operated as a single integrated destination serving consumers and commercial tenants.
• Bellevue Square A 1.3 million square foot retail power center serving as the major retail driver of The Collection, featuring over 200 contemporary, global, and emerging retail brands as the anchor of the Bellevue Collection portfolio.
• Lincoln Square A mixed-use development featuring over 480,000 sf of retail, dining, and entertainment, including hotels (W Bellevue, The Westin Bellevue), restaurants, cinemas, and office space, pioneering the true mixed-use category at The Bellevue Collection.
• Bellevue Place A 21-floor, 450,000-square-foot office tower complex with retail, dining, and hotel (Hyatt Regency Bellevue with 733 luxury rooms) components, serving as a catalyst for connection within The Bellevue Collection.
• Two Lincoln Tower Luxury apartment homes and two-story penthouses located above W Bellevue hotel, featuring Northwest-inspired interiors with floor-to-ceiling windows and Mt. Rainier views within The Bellevue Collection.
• 400 Lincoln Square (Lincoln Square South) 710,000 square feet of premier Class A office space with well-appointed common spaces, home to tech and game design companies including Smartsheet, Unity Technologies, Samsung Electronics America, Merrill Lynch, Bank of America, WeWork, D.A. Davidson, and Paramount Hotels.
• Office Leasing Services Class A office leasing services across Bellevue Place (520,000 sf), Lincoln Square North (600,000 sf), and Lincoln Square South (710,000 sf) totaling 1.7 million sf, brokered through Broderick Group (Paul Sweeney, Jim Kinerk, Clayton Holm).
• Retail Leasing Services Retail space leasing services for tenants at The Bellevue Collection, including access to over 200 global, local, and innovative retail brands, handled by Jana Koeberle and Katie Perkins.

Named customers8 records

Segments2 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves12 records

Expansion highlights4 records

Direct peers

• Federal Realty Investment Trust: A publicly traded REIT that owns and operates high-quality mixed-use and open-air retail properties in major U.S. coastal markets. Directly comparable to KDC because both own and operate mixed-use portfolios combining retail, dining, office, and residential with a long-term placemaking strategy.
• Taubman Centers: A U.S. REIT specializing in high-end regional and super-regional shopping centers. Now part of Simon Property Group, but historically a direct peer to Bellevue Square as a developer/operator of premium retail-anchored mixed-use destinations targeting affluent consumer bases.
• Macerich: A U.S. REIT that owns and operates high-quality retail and mixed-use properties concentrated in affluent West Coast and Sunbelt markets. Comparable to KDC in retail asset focus, West Coast geographic exposure, and reliance on department-store and luxury anchors.
• The Howard Hughes Corporation: A U.S. real estate developer that owns and operates large-scale master-planned communities combining retail, dining, office, hotel, and residential. Directly comparable to KDC in its focus on integrated mixed-use placemaking at scale in single geographic markets.
• AvalonBay Communities: A U.S. REIT focused on high-quality multifamily apartment communities in coastal markets with strong tech employment. Comparable to KDC's Two Lincoln Tower luxury residential component serving the Eastside's affluent tech workforce.

Broad incumbents

• Simon Property Group: The largest U.S. shopping mall and mixed-use REIT, operating premium retail destinations nationwide. Comparable as a broader incumbent in mall/mixed-use ownership and operations, though Simon operates at far greater scale and geographic breadth than KDC.
• Brookfield Property Partners: A global real estate operator owning and developing office, retail, multifamily, and logistics assets. Comparable to KDC as a large mixed-use operator with a long-term hold strategy, though at far greater scale and global diversification.
• Vornado Realty Trust: A U.S. REIT concentrated in office and retail assets in major coastal markets including New York City and the San Francisco Bay Area. Comparable to KDC's office and retail leasing operations at premium urban locations, though with a different geographic footprint.
• Unibail-Rodamco-Westfield: A global operator of premium shopping destinations and mixed-use assets in major metropolitan markets. Comparable to KDC as a broad incumbent in flagship retail destination operations, particularly relevant to Bellevue Square's positioning as a premier Pacific Northwest retail destination.
• Tishman Speyer: A global real estate developer, owner, and operator of office, residential, and mixed-use properties in major gateway cities. Comparable to KDC as a long-tenured mixed-use developer with placemaking expertise, though at greater scale and broader geographic diversification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kemper-development-co.

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 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 Kemper Development Company