Distillery in hand, firm buys former eatery

The two-story, 3,000-square-foot building at 506 W. Broad St. (Photos by Michael Thompson)

The two-story, 3,000-square-foot building at 506 W. Broad St. (Photos by Michael Thompson)

A shuttered restaurant property near Broad and Belvidere streets has a new owner and a connection to an upstart local distillery.

Black Label Capital on Jan. 27 acquired the former Belvidere at Broad space at 506 W. Broad St. The two-story, 3,000-square-foot building sold for $425,000, according to city records.

The former Belvidere at Broad space.

The former Belvidere at Broad space.

Black Label Capital is a private equity firm with investments in Virginia, Maryland and Washington. In July, the company acquired the former Cirrus Vodka distillery at 2700 Hardy St. near the Diamond.

Jonathan Staples, one of the owners of Black Label Capital, would not comment on the firm’s plans for the restaurant space.

Staples is also listed as a manager and member of James River Distillery, a new company that plans to operate out of the former Cirrus facility and that received its ABC license in January.

The company has been quiet about its plans there, but it has filed trademark applications for “James River Whiskey,” “James River Rye,” “James River Gin” and other names.

Belvidere at Broad closed in summer 2012 after three years in business.

Broker Nathan Hughes of Bandazian & Holden represented the seller, 506 West LLC.

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Nathan Hughes
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My fault for confirming the listing info by email while on the run between appointments, but Richard Holden and I both represented the seller.

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