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Chase Bank cuts ribbon at former Banana Republic location in Old Town

Chase Bank cut the ribbon on its new location in the heart of Old Town this morning.

Chase Bank bought 628 King Street for $11 million in December 2022, more than double its assessed value ($5.2 million last year), according to Alexandria property records. The building was previously a Banana Republic for decades, and closed along with The Gap at 622 King Street in January 2022.

“It is an honor for us to be a part of the Old Town community,” said branch manager Wendy Turner at the ribbon cutting. “It is such a privilege to be a part of this charming and historic community of Old Town residents and business owners, and we;’re so excited to be here.”

Chase Bank first moved to Alexandria in 2019, across the street at 106 N. Washington Street. The New York-based company has 114 locations in the D.C. metro area and plans on having 140 locations by the end of 2025.

A permanent sign will be erected within the next several weeks, staff told ALXnow.

“When we look at our locations we really want to make sure they’re visible and accessible,” said Chase Bank regional manager Alfonzo Guzman. “We’re going to be here in Old Town for a long time.”

The building at 628 and 622 King Street was constructed as a 600-seat theatre in 1854. During the Civil War, the building was named Washington Hall General Hospital, and contained 100 beds for Union soldiers. The building was later a laundromat and an insurance firm before it burned down and was rebuilt.

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