Chase Bank will continue its expansion in the Washington region with a branch in downtown Bethesda, taking the space formerly planned for a Dean & DeLuca gourmet grocery as part of a JBG Smith redevelopment.
A Chase spokesperson confirmed the new branch will be at 4749 Bethesda Ave., adding that the opening date is fluid but summer is a realistic timeline.
Dean & DeLuca announced in September 2016 it would be taking the space across from the since closed Barnes & Noble at Bethesda Row, but pulled out in May 2018. The JBG development was slated to open in fall 2017, but the project was delayed because the grocer wanted to change its store design, according to the developer.
JBG is expanding its retail collection at the property and Chase Bank will be one of multiple tenants at 4747 and 4749 Bethesda Ave., according to JBG.
“When the initial deal with Dean & Deluca at 4749 Bethesda Avenue did not come to fruition, the team saw an opportunity to remerchandise and bring a collection of tenants rather than a single user to the space,” the developer said in a statement. “We considered the shifting landscape of retail in Bethesda and kept a keen focus on bringing an assortment of complementary offerings to our project and the greater Bethesda neighborhood.”
JBG said it is in contact with several tenants to take some of the remaining 10,000 square feet across the two spaces, and hopes to announce new deals in the coming months.
Construction crews continue to work on the building but the façade is nearly finished, now adorned with a banner advertising “trophy office space.”
JPMorgan Chase announced in April 2018 plans to expand its network into 15 to 20 new markets, beginning in Maryland, Virginia and the District. The company aimed to open 70 branches and add 700 employees in the Washington region.
Chase opened its first such branch at McPherson Square in Washington in November 2018 and opened six locations in the area by the end of 2018, serving more than 2 million customers.
“We are so proud that our branches are now a part of the Greater Washington community, such an important region in the country, and to be able to help more of our customers here,” Chase Consumer Banking CEO Thasunda Brown Duckett said in a statement after the McPherson Square opening.
Charlie Wright can be reached at charlie.wright@moco360.media
