A national bank continues to push ahead with its first retail branches in the Richmond region, albeit slowed down a bit by the coronavirus.
Chase Bank has completed renovations on the building at 8727 Staples Mill Road, which will be the company’s first retail location in the market when it opens later this summer.
The branch, which Chase leases, is ready to open. But the opening date is still in flux for sometime this summer because of the pandemic.
And it might have a new landlord when it does open for business. The owner of the property has put the 2,900-square-foot building up for sale with an asking price of $3.25 million. Its online listing on Loopnet boasts of a 4 percent cap rate and a 20-year triple-net lease with Chase.
Elsewhere in Henrico, Chase also aims for a summertime opening of 11720 W. Broad St. in the former Matchbox restaurant space in front of Short Pump Town Center. That building, which the bank is leasing from the mall’s owners, is being renovated to make way for Chase. It will occupy 4,000 square feet.
Over at Willow Lawn, site work has begun for Chase’s from-scratch branch at 5205 W. Broad St. on the site of the former Extra Billy’s BBQ building. Crews made quick work in recent weeks of demolishing the restaurant building, which is bordered by the infamous aluminum-clad flying saucer building that once housed the headquarters of Markel Corp.
The Willow Lawn branch would stand at 2,900 square feet, a two-lane drive-thru with an ATM and 31 parking spaces. It’s expected to open before year’s end.
All of the branches will have eight to 10 employees.
The projects are part of Chase’s Richmond retail expansion plan, which is expected to include a total of 20 branches in the Richmond region over time, 10 which it aims to open by the end of 2022.
The Richmond market is part of a larger radius that Chase has identified for expansion spanning from Baltimore to Richmond and down into Hampton Roads.