1031 exchange, explained
A 1031 exchange lets you defer capital gains by reinvesting the proceeds of a sale into like-kind replacement property. The mechanics are simple; the deadlines are what make it hard.
After you close a sale, you have a fixed window to identify replacement property and a longer one to close on it. Both are counted in calendar days, not business days, and they do not move for weekends, holidays or a deal falling apart. Missing either one means the gain becomes taxable.
That single constraint explains most of how exchange buyers behave. They pay for certainty rather than for yield, they need answers the same day, and they will walk from a good asset with a slow seller in favour of an adequate asset that will certainly close. If you are on a clock, telling us the date is the most useful thing you can do — it changes which properties we show you.
Net leased retail is common replacement property for exactly this reason: the diligence is contained, the income is contractual, and a well-documented single-tenant asset can close quickly. The risk to manage is overpaying under time pressure, which is a real cost and worth naming rather than pretending the deadline is free.
Nothing here is tax advice. Your qualified intermediary and your accountant own the structure; we own finding and closing the replacement asset inside it.