Celebrity Kim Kardashian's growing Los Angeles-based athleisure company, Skims, has shown interest in taking new office space in Hollywood.
Skims executives are in talks to occupy 1601 Vine St. tower in the heart of Hollywood after months of searching for new space, sources with knowledge of the deal told CoStar News. The talks come after Skims passed on another site, a speculative office property called the Depot office at 3609 S. 10th Ave. in L.A.'s West Adams neighborhood. The Depot's owner has since put the building up for sale.
Representatives for Skims and 1601 Vine St. didn't respond to a request to comment from CoStar News.
The popular Skims company has raised nearly $400 million in funding since it was founded in 2019, according to Crunchbase. Skims was valued at $3.2 billion in 2022. The company bases its operations at 3233 S. La Cienega Blvd., according to state of California records. That address is located at Blackwelder, a creative office campus owned by Los Angeles-based real estate investment trust Kilroy. Representatives for the campus didn't respond to requests to comment from CoStar News.
Kardashian, best known for her reality TV shows, has been growing her business interests outside of television in recent years. In addition to Skims, Kardashian teamed with a former partner at global investment firm Carlyle Group to launch a private equity firm called SKKY Partners in September 2022, according to the Wall Street Journal.
The discussions come after WeWork left the roughly 115,000-square-foot property last year, according to the Real Deal. Los Angeles developer J.H. Snyder built the tower in 2017, according to CoStar data.
Hollywood's office market has an average market rent of $55.42 per square foot, above the greater L.A. average of $42.25 per square foot, according to CoStar data. The market's vacancy is 16.7%, above the greater L.A. average of 14.9%.