A telescoping bollard assembly is provided. The bollard assembly includes a threaded shaft and a shaft housing structure containing a lubricant source in fluid communication with the shaft threads. A lubricant is positioned in the lubricant source in contact with the threaded portion of the shaft. A funnel portion is in fluid communication with the lubricant source, and a shaft guide portion is in fluid communication with the funnel portion. A portion of the shaft projects to an exterior of the housing through a shaft exit portion. The shaft exit portion is in fluid communication with the shaft guide portion and defines a flow path for the lubricant to the lubricant source. Rotation of the shaft urges lubricant from the lubricant source sequentially into the funnel portion, the shaft guide portion, and the shaft exit portion, whereby the lubricant is returned to the lubricant source.