SKIMS Hollywood Headquarters Acquired for $105 Million
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The office building at 1601 Vine in Hollywood was acquired by Kingsbarn Realty Capital for $105 million. The sale was brokered by Newmark, which represented the seller J.H. Snyder Co.
The 116,000-square-foot building was fully leased at the time of sale. It was anchored by SKIMS Body Inc., which signed a 15-year lease for its headquarters location.
“SKIMS’ long-term commitment to 1601 Vine reflects a broader return-to-office trend. For SKIMS, in-person collaboration is essential – especially in a tactile, design-led industry like apparel. Their 15-year lease signals a strong belief in the long-term value of a physical workspace to foster creativity, culture and innovation,” said Laura Stumm, vice chairman at Newmark.
The building was developed in 2017 and underwent extensive renovations last year for SKIMS. The news coincides with SKIMS flagship retail opening on the Sunset Strip this week.
In a move that will significantly expand its physical retail footprint, popular apparel brand SKIMS, co-founded by Kim Kardashian, launched its flagship West Hollywood retail location on the Sunset Strip April 1.
Newmark’s sales team included Head of U.S. Capital Markets Kevin Shannon, Alex Foshay, Ken White, Rob Hannan, Laura Stumm, Michael Moll, Bill Bloodgood and Alex Bergeson.
Information for this article was sourced from Newmark.
