BJ’s Wholesale Club
Net Lease
205 Southern Road, Southern Pines, North Carolina
Ownership Type:
Fee Simple
Landlord Responsibilities:
See OM
Renewal Options:
6, 5 yr options
Building Sq. Ft.:
99,804 SF
Rent Increases:
3% every 5 years
Investment Highlights
- Brand New Lease & Stable Passive Investment: This newly executed, long-term lease provides a secure, hands-off investment with minimal landlord responsibilities. BJ’s Wholesale Club is set to open for business in March 2025, ensuring immediate cash flow and reliable income backed by strong lease terms.
- Pinehurst, NC, home to the PGA Tour headquarters, globally recognized destination for golf and tourism. Pinehurst Golf Resort is set to host the Men’s U.S. Open Championship in 2024, 2029, 2035, 2041, and 2047, attracting over 250,000 attendees in 2024 alone. This influx of visitors will drive significant demand for retail, dining, and hospitality, reinforcing the area’s long-term economic growth and commercial viability.
- Fort Bragg, the largest U.S. military installation by population, is home to 53,700 active troops and serves as a hub for airborne and special operations forces, earning the nickname “The Center of the Military Universe.” Located 33 miles from Southern Pines and spanning 172,000 acres, it has a significant economic impact of $8.2 billion. Additionally, it ranks #2 in the nation for military families, highlighting its importance both strategically and as a community.
- BJ’s Wholesale Club, a leading wholesale retailer with 250+ locations across 21+ states, has secured a long-term 20-year corporate lease. Generating $20 billion in revenue in 2023, BJ’s strong financial performance ensures stability.
- Ideally located in Morganton Park South along US 15-501, this property offers excellent connectivity to major highways, including US 15-501, I-73, US-1, and I-74. Morganton Park South is a 370,000 SF upscale shopping center in Southern Pines, NC, featuring refined architecture, vibrant landscaping, and top national retailers. Positioned in a prime retail corridor near Target, Walmart, Lowe’s, Starbucks, and Chick-fil-A, the development will also include 269 high-end apartments, with 214 more planned, ensuring strong consumer traffic and demand.
- Southern Pines attracts an affluent consumer base, with an average household income of $104,408 within a 5-mile radius. The area sees 1.5 million annual visitors, driving over $700 million in projected visitor spending. Retail and restaurant sales reached $891 million and are set to exceed $1 billion this year. With a 70% year-over-year visitor spending growth rate, Southern Pines ranks 4th in North Carolina, highlighting its robust economic trajectory.
Ownership Type:
Fee Simple
Landlord Responsibilities:
See OM
Renewal Options:
6, 5 yr options
Building Sq. Ft.:
99,804 SF
Rent Increases:
3% every 5 years
