Chase plans to open a new branch in the DTC, plans submitted to the city show. (BusinessDen File)
JPMorgan Chase is cashing in on some land in the Denver Tech Center.
The banking giant purchased an acre-sized parking lot at 7835 E. Belleview Ave. in Denver, next to the Belleview Tower office building, for $3.6 million last month, according to public records. That works out to $74 a square foot.
The Texas-based Endeavor Real Estate Group, which owns the tower next door, sold the lot.
A Chase spokeswoman declined to comment. But public records show the firm is planning to build a 3,000-square-foot standalone branch with a drive-up ATM. About 50 parking spots would remain.
Chase expects to spend at least $1.7 million on construction, per the documents. The company submitted initial development plans for the branch last year.
Chase is adding more retail locations while many of its competitors close theirs, the Wall Street Journal reported in February. The company wants to add 500 new branches in the next three years, and has a goal to control one-fifth of the nation’s deposits.
In the Denver metropolitan area, Chase had a little more than $8 billion in deposits as of the end of June, according to FDIC data. That was enough to rank third locally. Wells Fargo had the lion’s share: $12 billion, more than a fifth of the metro area’s $58 billion in total deposits.
But the bank has closed more locations than it opened in recent years.
Between January 2022 and March of this year, the Chase opened one location in Telluride and Parker, and two in Denver – at 63 N. Quebec St. and 740 W. Colfax Ave. In that same time span, it closed down 11, from Fort Collins to Colorado Springs.
Chase plans to open a new branch in the DTC, plans submitted to the city show. (BusinessDen File)
JPMorgan Chase is cashing in on some land in the Denver Tech Center.
The banking giant purchased an acre-sized parking lot at 7835 E. Belleview Ave. in Denver, next to the Belleview Tower office building, for $3.6 million last month, according to public records. That works out to $74 a square foot.
The Texas-based Endeavor Real Estate Group, which owns the tower next door, sold the lot.
A Chase spokeswoman declined to comment. But public records show the firm is planning to build a 3,000-square-foot standalone branch with a drive-up ATM. About 50 parking spots would remain.
Chase expects to spend at least $1.7 million on construction, per the documents. The company submitted initial development plans for the branch last year.
Chase is adding more retail locations while many of its competitors close theirs, the Wall Street Journal reported in February. The company wants to add 500 new branches in the next three years, and has a goal to control one-fifth of the nation’s deposits.
In the Denver metropolitan area, Chase had a little more than $8 billion in deposits as of the end of June, according to FDIC data. That was enough to rank third locally. Wells Fargo had the lion’s share: $12 billion, more than a fifth of the metro area’s $58 billion in total deposits.
But the bank has closed more locations than it opened in recent years.
Between January 2022 and March of this year, the Chase opened one location in Telluride and Parker, and two in Denver – at 63 N. Quebec St. and 740 W. Colfax Ave. In that same time span, it closed down 11, from Fort Collins to Colorado Springs.
