1031 Exchanges and the Sale of Commercial Office Properties

Ken Johnson and Jonathan Wiley

Journal of Real Estate Portfolio Management, 2008, vol. 14, issue 3, 203-210

Abstract: Executive Summary. This paper examines the impact of 1031 exchanges in the commercial office market using transaction level data from a national sample of recent sales. Properties that are bought or sold under the conditions of a 1031 exchange are found to price at significant premiums relative to comparables. Additionally, although current regulation requires sellers to locate an exchange property within 45 days, this study finds no evidence to indicate any difference in marketing times for these properties.

Date: 2008
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DOI: 10.1080/10835547.2008.12089809

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