Kemper Development Buys Oriental Rug Co. Corner PropertyThe PSBJ is reporting that the Kemper Development Co., has acquired a prime, corner location, adjoining Bellevue Square.

The location, on the northwest corner of Bellevue Way and NE 4th St., is enveloped by real estate owned by Kemper Development. Via the acquisition, Kemper will own all of the property between Bellevue Square and NE 4th St.

It has been rumored for some time that Kemper Development have been very interested in acquiring this landing so that they have more control over future development.

Previous plans have suggested that the property could be built luxury retail project.

The seller of the property, Farhad Khorram has owned and operated the Oriental Rug Co. for nearly 30 years at the Bellevue location.

The purchase price of the sale was not disclosed by either party.