The Background

This Chick-fil-A 1031 exchange sale sent a Dallas, Texas net lease asset to an all-cash buyer based on Long Island at $2,000,000. The buyer was working against an exchange deadline, and our Long Island relationships are the reason an out-of-state Texas property found its way to them at all. We spend most of our time with owners and investors 1,500 miles from this property, which is precisely why we can place national credit-tenant product with them.

The Problem We Had to Solve

A 1031 buyer on a deadline cannot afford a deal that dies in due diligence. A failed exchange is not just a lost property, it is a tax bill. This deal came close. An issue surfaced during the due diligence period that gave the buyer a legitimate reason to walk away or to demand a discount, either of which would have cost the seller the closing and the buyer the exchange.

What We Did

The first job was matching the asset to the buyer honestly. The site sits directly in front of a Walmart Supercenter, giving it traffic and visibility most freestanding quick service restaurants never see, and Chick-fil-A’s credit made it the low-risk replacement property an exchange buyer actually needs. That combination is why the buyer moved quickly on a property in another state.

When the due diligence issue came up, we refused to let it become a pricing conversation. We worked with the seller to solve the underlying problem instead, so the buyer’s economics stayed exactly where they were when the contract was signed.

How It Closed

The sale closed all cash at the original contractual price. No discount and no re-trade, and the buyer completed the exchange inside the deadline.

The Silber Difference

Most buyers we work with are not looking for a property, they are looking for a solution to a deadline. That changes how a deal has to be run. When a problem surfaces in due diligence, the easy move is to hand both sides a number and let them fight over it. The harder and better move is to fix the problem so nobody has to renegotiate at all. That is how a buyer completes an exchange on time and a seller gets the price they signed for.