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4/03/25
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Kingsbarn Realty Capital closed on the $105 mil acquisition of 1601 Vine, a 115.6k sf ($908/sf), Class A office building located at 1601 Vine St, just south of Hollywood Blvd in Hollywood. The property, anchored by Skims Body Inc, is 100% leased.
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.
1601 Vine is located along the Hollywood Walk of Fame, at the heart of the entertainment capital of the world. Hollywood is a top visitor destination, boasting over $6 billion in investment in the last decade. Featuring a Walk Score of 98, the property presents access to walkable amenities and is located two blocks from the 101 Fwy.
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. Newmark Co-President, Global Debt & 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.”
Stumm added, “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.”
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