News Trinity Partners Announces the Sale of 2740 Gray Fox Road

A multi-tenant office/warehouse building in the Industrial Ventures II Business Park in Monroe, North Carolina

May 28, 2024

Monroe, North Carolina – 2740 Gray Fox Road, a 20,000 square foot office/warehouse building located in the Industrial Ventures II Business Park in Monroe, has officially sold to Scythe, LLC. David Morris, Dunn Mileham, and Eric Jennings of Trinity Partners handled the transaction on behalf of the seller.

At the time of the sale, the building was 100% occupied by six tenants. The seller, Sago
Capital, based in College Station, Texas, acquired the property in January 2023 as part of its
continued geographic expansion in growing secondary and tertiary markets across the eastern

“Sago perfectly executed its business plan by thoughtfully systemizing and streamlining property
management practices and building operations. Those efforts provided a framework for future
ownership to improve cash flow and yield by taking advantage of the strong labor market,
excellent access, and numerous amenities in east Charlotte,” said David Morris, Director,
Investment Sales at Trinity Partners. “Given the lack of new supply of office/warehouse space in
Charlotte, there are few options for companies looking to expand, especially in this size range,
further enhancing demand and supporting pricing for available opportunities.”

Located just off Highway 74 near the intersection of Sardis Church Road, the Industrial Ventures
II Business Park serves businesses in east Charlotte, Indian Trail and Monroe. The park features
easy access to area amenities and residential communities via Highway 74, Highway 74 Bypass,
and I-485, including restaurants, grocery and home improvement retailers, single and multifamily housing, and neighborhood services.

Trinity Partners is a full-service commercial real estate firm serving corporate users and
institutional owners throughout the United States, with service lines ranging from landlord and
tenant representation to property management and investment sales. They are known for their
entrepreneurial spirit, best-in-class performance, and respected team of commercial real estate
professionals, who are directly responsible for the company’s success and collaborative culture. The
firm currently leases and/or manages over 35 million square feet of office, industrial, mixed-use,
and retail space across the Southeast through their five offices in Charlotte and Raleigh, North
Carolina, Columbia and Greenville, South Carolina, and Atlanta, Georgia.

Sago is an independent, Texas-based firm working to create the strongest long-term investments
for, and relationships with, its partners. The company endeavors to be its partners’ first and best
resource for compelling, stable, and high-yield opportunities in all markets and categories of real
property assets. Sago principals have extensive experience in both real estate investments and
transactions, as well as operating company management. This deep and diverse background
allows the company to evaluate both real property investments and tenants with every
650 S. TRYON ST., STE. 900 | CHARLOTTE, NC 28202 | 704.372.8822 | TRINITY-PARTNERS.COM
transaction. Sago also provides the greatest transparency in our investments and operations to
our growing network of partners across the country.

Scythe is a hands-on operator of a diverse range of real estate assets. From single-family homes
in Northeast Ohio to multi-bay flex industrial properties in South Florida, the company leverages
its creative vision with hard work to generate solid returns for its partners. With operations
rooted in Cleveland, OH, and Miami, FL, Scythe’s objective centers on a powerful equilibrium—
orchestrating diverse business and real estate ventures while investing in extraordinary outside
partners and individuals. This two-fold commitment refines its strategy, fostering internal
progress and paving the way for impactful collaborations with industry trailblazers.