Skims Leases JH Snyder Office Building in Hollywood

Skims, a shapewear and clothing company founded by Kim Kardashian, has leased a 116,000-square-foot building in Hollywood owned by J.H. Snyder.

Skims will occupy the 2nd through 8th floors at the building at 1601 Vine Street, taking up all of the office space at the property, according to lease documents filed with L.A. County. City National Bank occupies the ground-floor retail at the building.

Neither Skims nor J.H. Snyder responded to a request for comment.

The building previously served as WeWork’s only Hollywood location, until October of last year, when the co-working firm exited its lease. WeWork had held a lease on the building through September 2030.

J.H. Snyder has been working to sell the property since August, according to a listing from JLL. The property is in contract to sell, according to JLL’s website, though JLL has declined to comment further.

However, the Skims lease has helped J.H. Snyder avoid default on a loan tied to the property.

J.H. Snyder’s $50 million loan from City National Bank on the building was set to mature on March 1. But after Skims signed the deal, City National Bank agreed to extend the loan through May 2024, according to loan documents filed with the county.

Earlier this month, investment firm Wellington Management was reportedly in talks to lead a new funding round for Skims that would value the company at around $4 billion.

And it is one of the few players adding to its office footprint in L.A., rather than shedding.

Almost 30 percent of all office space in L.A. County was available in the second quarter, according to Savills, and about 400,000 square feet was put on the market for sublease.