With its grocery anchor open for business, a $40 million Carytown retail project has signed another big national name.
Chase Bank, the banking giant that’s in the thick of a branch blitz across the Richmond market, is taking space for a location in Carytown Exchange, the 120,000-square-foot, Publix-anchored development taking shape at the retail district’s western edge.
A Chase spokeswoman confirmed it is leasing around 3,000 square feet of yet-to-be built inline space fronting Cary Street. Carytown Exchange also features storefronts facing Ellwood Avenue, in addition to the 49,000-square-foot Publix that opened this month.
Exterior construction on the Ellwood-facing storefronts is complete, while site work on the Cary-facing portion is still in the early stages, after developer Regency Centers said this summer it had pushed back its construction schedule in light of the pandemic.
Other than Publix, Chase is the first tenant to publicly confirm a lease in the development. The Virginia ABC has said it is considering moving its store across the street at 10 N. Thompson St. into Carytown Exchange.
Regency Centers and its leasing representatives did not respond to a request for comment Wednesday afternoon.
The Carytown spot will be at least the fourth Richmond-area branch in the works for Chase, in addition to the first two it opened this year in Short Pump and on Staples Mill Road in Henrico.
It also has locations in the works in Shockoe Slip, Willow Lawn, Mechanicsville and Midlothian.
The mass expansion is part of Chase’s plan to add up to 20 new branches in Central Virginia over time, 10 of 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 and down into Hampton Roads.