Newmark Group announced on April 2, 2025, that it arranged the $105 million sale of 1601 Vine, a premier Class A office building in the Hollywood submarket of Los Angeles. The 115,589-square-foot building is 100% leased, anchored by Skims Body, Inc.
Newmark Co-Head of U.S. Capital Markets Kevin Shannon and his team represented the seller, Snyder Vine, LLC, with Kingsbarn Realty Capital as the buyer. The property was extensively renovated in 2024 to deliver a world-class headquarters for Skims.
This transaction demonstrates renewed conviction in high-quality, 2025-vintage office investments, with top-tier tenants prioritizing best-in-class buildings. Skims' 15-year lease signals a strong belief in the long-term value of physical workspace to foster creativity and innovation, and investors are capitalizing on opportunities to acquire premier office product below replacement cost.
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