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Newmark Arranges $105 Million Sale of Skims Headquarters Office Building in Hollywood, California

1. Newmark facilitated a $105 million sale of 1601 Vine in Hollywood. 2. The building is fully leased, anchored by Skims Body, Inc. 3. Investment in high-quality office spaces is gaining momentum. 4. Skims' 15-year lease highlights confidence in physical workspaces. 5. Hollywood's real estate sees $6 billion investment in the last decade.

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Why Bullish?

The successful sale and full lease demonstrate demand for prime real estate, which could enhance NMRK's reputation and future deals, similar to past successful transactions that reinforced investor confidence.

How important is it?

The completion of notable transactions like this sale can enhance investor sentiment and trust in NMRK, especially as it aligns with broader market trends towards premium office spaces.

Why Short Term?

The immediate impact of successful transactions can influence stock prices quickly, particularly in real estate markets that are sensitive to occupancy rates and lease agreements.

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, /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers announces the Company 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"). Image courtesy of Newmark 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 & 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."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 Freeway.About NewmarkNewmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2024, Newmark generated revenues of over $2.7 billion. As of December 31, 2024, Newmark and our business partners together operated from approximately 170 offices with more than 8,000 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.Discussion of Forward-Looking Statements about NewmarkStatements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.SOURCE Newmark Group, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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