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SAN DIEGO (KGTV) - Green Flash Brewery has been sold to a new investment group, continuing a turbulent start to the year for the San Diego-based brewery.The company announced Monday the finalized sale to the group made up of "individuals with extensive experience" in craft beer and food and beverage industries.In a letter to shareholders published on The Full Pint, CEO Mike Hinkley said the company's lender, Comerica Bank, had "foreclosed on its loans and sold the assets of the company ... to WC IPA LLC."RELATED: National City adopts 'craft beer ordinance' to attract breweriesGreen Flash had reportedly taken on a loan for the development of a Virginia Beach, Va., brewery, which has also closed."As such, the Company no longer owns the Green Flash and Alpine businesses. Comerica Bank is currently conducting a separate process to sell the Virginia Beach brewery," the letter continued.The Virginia brewery closing followed that of Green Flash's Poway barrel-aging facility, Cellar 3, also closing this year. The brewery's plans for a brewhouse in Lincoln, Neb., in April have not been changed.RELATED: "Brewchive" preserves history of San Diego craft brewing industryFrom a local standpoint, Hinkley told 10News, "the entities behind the scene are different, the businesses up front are exactly the same."Green Flash said it will focus on shipping its beers to customers in California, Arizona, Colorado, Hawaii, Nevada, Texas, Utah, and Nebraska. The Green Flash and Alpine Beer Company brands, the latter of which was picked up by Green Flash in 2014, will continue."The Green Flash and Alpine breweries will continue to operate in San Diego and Alpine, respectively," a release by the brewery said.In the letter, Hinkley blamed a "general slowdown" in the craft beer industry and increased competition as causes of the sell-off. Earlier this year, the brewery cut its workforce by 15 percent but Hinkley told 10News the remaining 150 or so employees "will retain their jobs" in the wake of the sale.RELATED: Beer 101 with Stone Brewery in EscondidoThe brewery is bringing in new executive management, including Dave Mills, who most recently served as chief sales officer at Ballast Point Brewing Company. Hinkley says he no longer has an ownership stake in the company but will still lead the brewery following the sale, as former company president Chris Ross departs. 2458
SAN DIEGO (KGTV) -- Despite the still-high cost of living, San Diego’s housing market is beginning to cool down, according to a new report by Zillow. San Diego ranked third on the list of housing markets seeing the biggest slowdown. San Jose and San Francisco, two markets also known for their high costs of living, places first and second on the list The report shows that conditions in San Diego’s market are favoring buyers more than they did a year ago. RELATED: Home prices rise, sales plungeMore than 20 percent of homes for sale in America’s Finest City had a price cut in January of 2019, compared with only 12.4 percent of homes that saw a cut in January of 2018. Of the homes that have sold, 95.7 percent sell for their listing price. At this time last year, 97.7 percent of homes sold for their list price. The amount of time it takes to sell homes is also on the rise. In 2018, homes sold in 60 days, including time to close, Zillow reports. So far this year, homes are selling in 75 days. RELATED: Realtors expect busy spring for buyers and sellersEven though the market is starting to cool, San Diego’s median home value is 1,400. In comparison, the national median is just 5,300. “It is no surprise that the markets which pushed the bounds of affordability over the housing recovery are now experiencing significant cooling,” said Skylar Olsen, Zillow Director of Economic Research. “As down payments and mortgage payments far outpaced incomes, buyer demand eventually exhausted itself. Those buyers looking in cooling markets will likely welcome the relief, although the entry price is still high. Inventory is returning and spending more time on market, meaning their decision making can be made with a cooler head.”RELATED: How housing got so expensive 1785

SAN DIEGO (KGTV) - Frustrated business owners are speaking out after a rash of break-ins at local wineries and breweries.Lisa Miller, the co-owner of Koi Zen Cellars in Carmen Mountain Ranch, says her heart sank after she arrived at her winery one morning a few weeks ago."The plant was move to the side and the window was completely shattered. My heart started pounding. I got very anxious," said Miller.Inside, she tasted more anxiety. Police believe the intruder was looking for the cash register, something Miller doesn't have. Instead, the burglar grabbed 40 pieces of consignment jewelry valued at more than ,000."When the detective arrived, he said this has been happening in other wineries and breweries in the area," said Miler.Longship Brewery in Mira Mesa in early April: surveillance video shows a person in a hoodie breaking a window, then crawling through the window. Two days later at the Black Plague Brewery in Oceanside, an intruder wearing a mask and hoodie kicked through a window, slipped in and raced right for the cash drawer, before leaving and driving off in a white Jeep Patriot. Detectives told Miller some 18 breweries and wineries targeted in the past few months. "This makes me really sad, mom-and-pop places put their heart and soul into their business no matter what their business is. It's extra expenses and extra violation," said Miller.Miller believes the thief is targeting wineries and breweries because they're located in business parks, which have less foot traffic.Anyone with information on the cases is asked to call Crimestoppers at 888-580-8477. 1600
SAN DIEGO (KGTV) — For the second time in as many weeks, several train cars derailed near the downtown San Diego area.The BNSF Railway Company says 19 cars derailed at about 9:40 p.m. Friday while traveling at slow speeds. The train cars were carrying automobiles.The backup continued into Saturday morning. Cars were at a standstill for about a mile along Harbor Dr. from the Barrio Logan area into downtown San Diego.No injuries were reported and the cause is under investigation.RELATED:Amtrak requires reservations for holiday travel in Southern CaliforniaTrain hits car on tracks in National CityCalifornia transit worker rescues man from oncoming trainShipyard workers were forced to walk around the massive backup in order to get to work Saturday. Each car has to be physically lifted back onto the tracks before the train can move.The derailment comes a week after four BNSF train cars derailed and struck a pillar supporting an overpass bridge on Harbor Dr. BNSF says the causes of both derailments are under investigation.BNSF is one of the largest freight railroad network in the country, according to the company's website, with about 32,500 miles of track in 28 states. 1190
SAN DIEGO (KGTV) — Haley Moore went from being bullied to being on a professional sports tour.Friday, Moore celebrated in Rancho Bernardo, becoming one of 45 women qualified for the 2020 LPGA Tour."If you want to be a professional golfer, it takes a lot of hard work, and you just have to be patient out there, you're not always going to have the best days," Moore says.RELATED:Strasburg, Leonard MVP awards mark special San Diego State honorPadres star turns frightening life event into 'Comedy for a Cause'San Diego boxer sets sights on Tokyo 2020 OlympicsAt only 20 years old, Moore broke into the highly competitive tournament by finishing tied 11th in the LPGA Q-Series tournament.While she's in the spotlight now, she says it hasn't always been like this. Moore is vocal about how she was bullied when she was younger."I think it was more of a motivation when I was bullied, at first it was very hard," Moore recalls. "I didn't want to play this game anymore. I was depressed."With support from her family — and golf family — Moore zoned in on her dream and focused past any negativity."Don't let them control your life, with me, just putting it aside and focusing on what my main goal was to get on the pro tour, really, helped me, motivated me from it," Moore said.That focus rewarded with the title of "pro golfer" now in front of her name."It was a dream come true for me, I'm just happy with the way it all ended, excited for the new journey and everything," Moore says. 1489
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