In 1940, the Brothers of the Christian Schools (the Christian Brothers) leased the property, purchasing it in 1945, and using it for sparkling wine production from 1950 to 1989. It was listed on the National Register of Historic Places in 1978. The Christian Brothers sold the property in 1989 because of declining market shares and vineyard yields, and the costs of seismically retrofitting Greystone. The Heublein Company of Canada purchased the property and marketing rights to the Christian Brothers' brands in 1990, shortly after the 1989 Loma Prieta earthquake occurred. The earthquake damaged the Greystone Cellars building, rendering the northern portion of the building unusable.