Industrial real estate. Long-term ownership.

We buy and operate Midwest industrial properties for the long term.

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$25,000 minimum investment

Aerial view of 201–215 Stag Industrial Boulevard in Lake St. Louis, Missouri.

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StagNew BerlinWedgeway

201–215 Stag Industrial Blvd · Lake St. Louis, MO

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Inside the portfolio

Two industrial properties show how we evaluate a building and plan for long-term ownership.

Earth City, Missouri

4061 Wedgeway Court

43,426 SF · Multi-tenant industrial

Aerial view of 4061 Wedgeway Court in Earth City, Missouri.

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What we saw

Multi-tenant infill industrial in Earth City, a St. Louis County logistics submarket. At acquisition, the 43,426-square-foot building was fully leased on staggered leases and acquired below replacement cost.

How we approach ownership

For a multi-tenant building, our firm-wide approach is lease by lease: retain good tenants, make disciplined leasing decisions and reserve capital for the work a long hold can require.

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Building
43,426 SF
Tenancy
Multi-tenant industrial
Built
1984
Site
4.88 acres
201–215 Stag Industrial Boulevard in Lake St. Louis, Missouri

Lake St. Louis, Missouri

201–215 Stag Industrial Blvd

What we saw

A 33,817-square-foot multi-tenant industrial property in Lake St. Louis, Missouri. The building sits in a supply-constrained corridor within the St. Louis market.

How we approach ownership

Across our portfolio, we start with the building tenants already use. We reserve for capital work and tenant turns, then evaluate leasing decisions as they arise.

Building
33,817 SF
Property type
Multi-tenant industrial
Market
St. Louis MSA
Location
Lake St. Louis, MO
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More from the portfolio

1285 West Terra Lane, O'Fallon, MO

1285 West Terra Lane

O’Fallon, MO · 18,858 SF
Single-tenant industrial

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W141 N9501 Fountain Blvd, Menomonee Falls, WI

W141 N9501 Fountain Blvd

Menomonee Falls, WI · 38,768 SF
Single-tenant industrial

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Explore the full portfolio

Acquisition strategy

We buy occupied industrial in major markets, typically multi-tenant buildings, at a basis below replacement cost. Debt is sized to the purchase price, with cash reserved for capex and tenant turns.

Rent opportunity

15–30%

Supported market rents targeted 15–30% above in-place rents, in low-vacancy, supply-constrained submarkets where current rents do not support new construction economics. Targets are not guarantees.

Acquisition debt

60–75%

Typical acquisition debt is 60–75% of purchase price (loan divided by purchase price), with cash reserved for capex and tenant turns.

Explore our acquisition discipline

Markets we know

Four Midwest metros anchor our acquisition work. Select a city to see how we read the market and which Bluebird properties appear in our public portfolio.

State outlines derived from U.S. Census Bureau 2025 Cartographic Boundary Files at 1:20 million scale. N

Minneapolis, MN

Minneapolis industrial

A diversified industrial market supported by medical device, retail distribution, advanced manufacturing and logistics demand.

No Bluebird property in this market is currently shown in the public portfolio.

Read the Minneapolis market report

Cody Leivas

Cody Leivas

Managing Partner

Kevin McNeil

Kevin McNeil

Managing Partner

Our team

We acquire and asset-manage industrial properties for long-term ownership. Our team brings together acquisitions, underwriting and investor relationships.

Meet our team

What to expect as a partner

A direct conversation first. Clear property information when there is something appropriate to review. Long-term communication centered on the buildings we own.

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  1. 01

    Initial conversation

    We start with your goals and questions, including whether the $25,000 minimum fits how you invest.

  2. 02

    Opportunity review

    When appropriate, we walk through the strategy, property information, material risks and governing offering documents.

  3. 03

    Long-term relationship

    Our team communicates about property operations and stays available for investor questions throughout ownership.

Start with a conversation.

Investments start at $25,000. Tell us what you are looking for, and our team will take it from there.

Start a conversation