Kidder Mathews received the exclusive disposition assignment for this privately held asset in downtown Bellevue. Encompassing nearly 1.5 acres, the site allowed for the development of more than 1,000,000 sq ft of residential or more than 500,000 sq ft of office, hospitality, or retail space. On the site was the Bellevue First Congregational Church, which had owned the property for over 100 years. The Board of Directors for the Church engaged Kidder Mathews to sell the site and realize the land value while relocating the group to a less valued land area while remaining in a high profile area in downtown Bellevue.
The Sellers had owned and occupied the property for over one hundred years while Bellevue, specifically downtown Bellevue, gentrified and developed all around the site. The Sellers also managed a two-story, multi-tenanted office building on the site. As both the church and the office building gradually became more functionally obsolescent, the Sellers performed their own internal review of values and how to best optimize their asset.