| New construction BJ's Wholesale Club (NYSE: BJ) in tax-free, high-growth state with scheduled rent increases |
| BJ"s rent equates to $48K/Acre or $6.28/SF and the asset is priced below replacement cost |
| $137,134 AHHI in 3 miles with the second lowest unemployment rate in FL at 1.9% |
| St. John's County was the fastest growing County in FL in 2022 and is experiencing 7% annual population growth |
| BJ's Wholesale Club operates 243 clubs and in 2024 saw over $3.6 billion in profit on $19.9 billion in revenue |
| Absolute Net Ground lease with 5% rent increases provides passive ownership and hedge against inflation |
Patrick Wagor
Atlantic Capital Partners
