Bank to replace former Denny’s demolished in Midtown Anchorage

A Wells Fargo branch will rise in the spot of a Denny’s that sat empty in recent years in Midtown Anchorage, an official with the bank confirmed.

The Denny’s restaurant closed in 2018 after 44 years in business. The shutdown added to the number of abandoned buildings sprinkled across the city.

The Denny’s was largely demolished over the weekend, leaving a mostly empty lot at the corner of Denali Street and Benson Boulevard, near the Midtown Mall.

A new Wells Fargo branch will open there in 2026, a Wells Fargo spokesperson said in an email.

Wells Fargo, based in San Francisco, is the largest bank in Alaska. It has 25 banks and ATMs in Anchorage alone.

“We are actively investing in our branch network by opening new locations and refurbishing our entire network,” the Wells Fargo spokesperson said in a statement. “We are excited to break ground on a new Wells Fargo branch in Anchorage, which will open to serve our valued customers in 2026.”

Greg McDonald, chief executive of the Calais Company, the commercial real estate company that owns the land where the Wells Fargo branch will be built, said there was a lot of interest from potential users of the building in recent years.

But the former restaurant building could not be economically renovated.

“We’re clearing the land to make opportunities for a new tenant,” he said.

Correction: An earlier version of this story incorrectly said the Wells Fargo branch will open next year. The branch will open in 2026.