In the largest deal in Hollywood to close this year, a 116,000-square-foot building that is home to Kim Kardashian’s shapewear brand Skims Body Inc. has sold for $105 million.

Located along the Hollywood Walk of Fame, at 1601 Vine St., the eight-story Class A office building was 100% leased to Skims at the time of sale. The buyer was Nevada-based private equity firm Kingsbarn Realty Capital.

“Capital is showing renewed conviction in high-quality, 2025-vintage office investments,” Kevin Shannon, co-head of U.S. Capital Markets at Newmark, said in a statement. “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 capitalization rates.”

Shannon, alongside Newmark’s Alex Foshay, Ken White, Rob Hannan, Laura Stumm, Michael Moll, Bill Bloodgood and Alex Bergeson, represented the seller, Snyder Vine, in the transaction. Newmark’s Jonathan Firestone and Henry Cassiday provided support on debt strategy and financing considerations throughout the transaction, according to a release.

Not only does the sale represent the largest deal in Hollywood to close so far this year, but it marks the second largest deal to close in all of Los Angeles all year, second to Murdock Plaza, a 17-story office tower in Westwood which sold for $131 million in January. 1601 Vine is the largest single-tenant deal to close this year as well, according to Newmark.

Tenant history of the asset

Originally developed in 2017 by Mid-Wilshire-based J.H. Snyder Co., 1601 Vine underwent extensive renovations in 2024, in anticipation of Skims’ move in.

The glass building was formerly occupied by WeWork which had commitments through 2030 but, following the company’s bankruptcy, the coworking company terminated its lease in late 2022 and the edifice sat empty for nearly a year.

Skims signed its lease in January 2023 – which commenced in July of that year and lasts through June 2038. Prior to its relocation, the shapewear brand was based in Culver City, where it had operated since its inception in 2019.

The Hollywood property has high-end features including executive suites and on-site photography studios.

“Skims’ long-term commitment to 1601 Vine reflects a broader return-to-office trend,” Stumm added in a statement. “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 workplace to foster creativity, culture and innovation.”

Skims in the limelight

The news of the sale comes shortly after Skims opened a brand new 4,500-square-foot flagship store along Sunset Boulevard in West Hollywood, and only weeks after Kardashian announced she would be consolidating her companies.

In March, Kardashian declared Skims would be acquiring skincare and makeup brand Skkn by Kim, another one of her business ventures. Pending acquisition approval, Skims is set to become Kardashian’s one and only business line, and the company plans to launch new beauty, skincare and fragrance offerings next year.

Skims is the seventh highest valued startup in Los Angeles with a $4 billion valuation as of 2023, according to PitchBook.

“My mission has always been to create products that resonate deeply – whether it’s shapewear and lingerie that empowers or makeup and skincare that transforms,” Kardashian previously said in a
statement. “Uniting everything under the Skims’ brand streamlines that vision.”