Midwest Industrial
Real Estate Investments
We acquire and operate value-add industrial real estate across supply-constrained Midwest markets — for accredited investors and family offices.
Vertically integrated with Summit Real Estate Services · Institutional reporting via the AppFolio investor portal
Industrial Assets
SF Owned
Occupancy
Core Markets
What We Do
We focus on operational execution, not financial engineering.
A disciplined approach to industrial real estate investment across the Midwest.
Acquire Value-Add Industrial Real Estate
We target warehouses, distribution centers, and small-bay properties with below-market rents and operational upside in the Midwest.
Focus on Small-Bay and Functional Assets
Multi-tenant industrial properties offer diversified income, higher yields, and reduced single-tenant concentration risk.
Execute Hands-On Asset Management
Our vertically integrated platform handles leasing, capital improvements, and tenant retention to maximize property performance.
Structure Institutional-Grade Syndications
We provide accredited investors access to institutional-quality real estate through professionally structured investment vehicles.
Who We Partner With
We work with long-term capital aligned with disciplined risk management.
Investors who value transparency, execution, and durable value creation.
Accredited Investors
Individuals meeting SEC accreditation standards seeking alternative investments with institutional-quality sponsors.
Family Offices
Multi-generational wealth management entities allocating to commercial real estate for income and preservation.
Sophisticated Private Capital
Experienced investors evaluating risk-adjusted returns and sponsor track record over marketing narratives.
Why Midwest Industrial
Industrial real estate underpins the U.S. supply chain. In Midwest markets, replacement cost often exceeds stabilized pricing, creating a durable margin of safety and compelling risk-adjusted returns.
Our focus on operational execution—not financial engineering—allows us to unlock value through leasing, tenant retention, and capital improvements.
Margin of Safety
Acquisition pricing below replacement cost
Durable Demand
Logistics and manufacturing tenancy
Operational Alpha
Value creation through execution
We invest where fundamentals, basis, and execution align.
Midwest Industrial vs. Coastal Markets
Why disciplined investors increasingly favor Midwest industrial markets.
| Factor | Coastal | Midwest |
|---|---|---|
| Entry Basis | High | Lower |
| Supply Risk | Elevated | Constrained |
| Tenant Mix | Competitive | Durable |
| Yield Profile | Compressed | Attractive |
| Replacement Cost | Exceeds Pricing | Exceeds Pricing |
| Institutional Competition | High | Moderate |
Midwest industrial offers a balance of yield, durability, and basis discipline that coastal markets increasingly lack.
About Bluebird Commercial Real Estate
Our Mission
Bluebird acquires and manages high-quality industrial assets across strategic Midwest markets. Our approach is grounded in rigorous underwriting, conservative assumptions, and long-term operational excellence. We invest with clarity, discipline, and an unwavering commitment to delivering strong, risk-adjusted returns for our investors.
Our Positioning
Bluebird Commercial Real Estate serves as the principal investment platform, while Summit Real Estate Services operates as the brokerage and property management arm. Together, they form a vertically integrated industrial real estate platform: Summit sources opportunities, executes transactions, and oversees day-to-day operations, while Bluebird directs investment strategy, capital formation, and long-term portfolio management.
Specialized Expertise
Decades of combined experience across industrial, flex, and medical office assets.
Value Creation
Disciplined acquisition of under-market assets with targeted value-add execution.
Risk Mitigation
Low-basis acquisitions, durable tenancy, and strong submarkets ensure downside protection.
Aligned Partnership
We communicate clearly, execute transparently, and invest alongside our partners.
Our Vertically Integrated Platform
Bluebird Commercial Real Estate and Summit Real Estate Services operate as one unified industrial real estate platform with two specialized brands. Bluebird is the principal investment arm. Summit provides brokerage, leasing, and property management execution across the Midwest. Together we control the full lifecycle of each asset—from sourcing and acquisition to operations, value creation, and exit.
Bluebird CRE
Principal Investment Platform
- • Investment strategy & portfolio construction
- • Acquisitions & underwriting
- • Capital formation
- • Asset management
- • Investor reporting & communications
Summit Real Estate Services
Brokerage & Management Division
- • Deal sourcing & market coverage
- • Leasing & tenant relationships
- • Property & facility management
- • CapEx oversight & execution
- • Operational performance management
Summit by the Numbers
One company. Two brands. Fully aligned. Vertically integrated performance.
Strategic Midwest Markets
Strategic Midwest industrial hubs with resilient fundamentals and long-term demand
Indianapolis, IN
National logistics nexus with exceptional interstate connectivity
Minneapolis, MN
Diversified economy with Fortune 500 headquarters
Milwaukee, WI
Manufacturing-driven market with efficient logistics
St. Louis, MO
Multimodal distribution center with inland port access
Featured Properties
High-quality industrial assets across core Midwest markets
201–215 Stag Industrial Blvd
Lake St. Louis, MO
Multi-tenant industrial property in a supply-constrained corridor offering stable income and structured value-add potential.
4333 W 71st Street
Indianapolis, IN
Large-format distribution asset in a premier logistics market with interstate access and institutional tenancy.
7834–7842 N Faulkner Rd
Milwaukee, WI
Multi-tenant flex industrial configuration with staggered rollover, diversified users, and strong occupancy resilience.
Leadership Team
Experienced professionals driving strategic growth
Cody Leivas
Managing Partner
Cody has built an extensive career spanning multiple facets of commercial real estate, with involvement in over $750 million of transactions—the majority focused on industrial assets across the Midwest. His diverse background includes underwriting commercial loans at Partners Bank of California, where he developed deep expertise in credit analysis, risk assessment, and deal structuring before transitioning to principal investing. He holds advanced degrees in Real Estate (Chapman University) and Investment Management & Financial Analysis (Creighton University), along with a Bachelor of Science in Finance from Azusa Pacific University.
Kevin McNeil
Managing Partner
Kevin McNeil is an accomplished commercial real estate professional with over 20 years of experience and a proven track record of closing more than 300 sale transactions. Previously serving as a Managing Director at Lincoln Property Company (LPC), he provided a range of services to meet his clients’ diverse needs and was an invaluable partner for investors looking to build their portfolios. Before his tenure at LPC, Kevin honed his skills as a Managing Director at Studley, Inc. (now Savills North America). He holds a Bachelor of Arts in Communications and Economics from Boston College.
Let's talk industrial
Whether you're an accredited investor exploring passive industrial exposure or a broker or owner with Midwest deal flow, we'd like to hear from you.
(949) 290-9150 · Orange County, CA
Industrial Real Estate Investment FAQ
Common questions about Midwest industrial real estate syndications and investment process
What types of industrial real estate does Bluebird invest in?
Bluebird focuses on institutional-grade industrial assets across the Midwest, including distribution warehouses, light manufacturing facilities, flex properties, and single-tenant industrial buildings. We prioritize properties with durable tenancy and long-term market relevance.
Which Midwest markets does Bluebird specialize in?
Our core markets include St. Louis, Milwaukee, Minneapolis, Indianapolis, and the broader Midwest industrial corridor. These regions offer stable demand drivers, strong logistics connectivity, and resilient long-term fundamentals.
What is Bluebird's investment strategy?
We target industrial assets with predictable cash flow, favorable lease structures, and strong tenant credit. Our approach emphasizes disciplined underwriting, operational efficiency, and long-term value creation.
How does Bluebird underwrite potential acquisitions?
We evaluate tenant financial strength, market fundamentals, rent comparables, replacement cost, lease terms, building functionality, and long-term demand trajectories. Our underwriting prioritizes risk management and institutional-quality standards.
What returns do industrial real estate investments typically provide?
Returns vary by asset, lease structure, and market conditions, but industrial properties are known for consistent cash flow and long-term appreciation. Bluebird aims to deliver stable, risk-adjusted performance across cycles.
Why is the Midwest attractive for industrial investing?
The Midwest offers centralized logistics access, affordable occupancy costs, diversified tenant bases, and strong labor infrastructure. These factors create durable demand and provide investors with reliable long-term performance.
How does Bluebird manage properties after acquisition?
We proactively oversee each property, focusing on tenant relationships, capital planning, building maintenance, and lease optimization. Our management approach protects asset value and ensures operational stability.
Who can invest with Bluebird?
We partner with accredited investors, family offices, and institutional capital seeking exposure to high-quality industrial real estate. Our platform delivers curated opportunities backed by rigorous analysis and experienced execution.
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