Newmark Group Inc. has arranged the $105 million sale of 1601 Vine, a premier Class A office building located in the Hollywood submarket of Los Angeles. The 115,589-square foot building is 100% leased, anchored by Skims Body Inc. (Skims).
Newmark Co-Head of U.S. Capital Markets Kevin Shannon, Executive Vice Chairman and Head of International Capital Markets Alex Foshay, Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll, Executive Managing Director Bill Bloodgood and Director Alex Bergeson represented the seller, Snyder Vine, LLC. The buyer was Kingsbarn Realty Capital. Newmark Co-President, Global Debt and Structured Finance Jonathan Firestone and Director Henry Cassiday provided support on debt strategy and financing considerations throughout the transaction process.
“Capital is showing renewed conviction in high-quality, 2025-vintage office investments,” said Shannon. “Top-tier tenants like Skims are prioritizing best-in-class buildings, and contrarian investors are capitalizing on the opportunity to acquire premier office product below replacement cost with historically attractive cap rates.”
Delivered in 2017 by JH Snyder Company, the property was extensively renovated in 2024 to deliver a truly world-class headquarters for Skims. The property features high-volume ceilings, a limestone lobby with terrazzo flooring, floor-to-ceiling windows offering panoramic views of Hollywood, high-impact executive suites and on-site photography studios.
“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,” Stumm added. “Their 15-year lease signals a strong belief in the long-term value of a physical workspace to foster creativity, culture and innovation.”
