O’Donnell

What O’Donnell does

O'Donnell is a Mexico-based industrial real estate investment and development firm founded in 1994 by David O'Donnell. The company develops, leases, and manages Class A industrial warehouses and logistics parks with a deliberate focus on in-fill and last-mile locations inside Mexico's largest urban consumption centers — most notably Mexico City (Vallejo, Tlalpan, Gustavo A. Madero) and the State of Mexico industrial corridor (Cuautitlán Izcalli), with additional presence in Querétaro and Puebla. Since inception, O'Donnell has developed and acquired approximately 1.26 million square meters across nine of Mexico's principal industrial markets, with marquee assets including the 241,789 m² Audi JIT/JIS supplier park in San José Chiapa (developed in a JV with AIG) and the 278,710 m² O'Donnell Cuautitlán Parque Logístico (OCPL). The company also serves as a long-term asset manager for institutional owners, currently managing 65% of FIBRA Terrafina's portfolio following its 2013 portfolio contribution that capitalized that FIBRA at USD 665 million.

The product portfolio combines purpose-built, multi-tenant speculative parks (OD La Laguna, OD Vallejo, OD 888) with build-to-suit projects for enterprise tenants such as Audi, Kuehne+Nagel, Mattel, Kloeckner, and Johnson Controls. Properties are increasingly positioned around urban last-mile and micro-fulfillment use cases, with sustainability features such as EDGE certification (OD Vallejo) and AMPIP Protected Park designation (OD La Laguna). Underpinning the operating platform is O'Donnell Capital Management (ODCM), the firm's in-house capital management arm established in 2018, which operates a publicly listed CKD (ODOCK18) on the Mexican Stock Exchange, closed Fund II with MXN 1 billion in 2023, and is currently raising Fund III targeting USD 250 million (USD 300 million hard cap).

O'Donnell generates revenue through four primary streams: recurring rental income from owned industrial properties, one-time asset sales to institutional buyers such as FIBRA Prologis (Puente México, USD 180.5 million in 2024), fund management and capital placement fees via ODCM's CKD vehicles, and asset management fees for third-party portfolios including FIBRA Terrafina. Go-to-market is sales-led and direct, anchored by long-term institutional capital partnerships (AIG since 2014, Prudential/PREI since 2003) and bilateral relationships with corporate tenants; pricing is negotiated per-asset based on location, specifications, and lease terms. The customer base is concentrated in enterprise and institutional segments — automotive manufacturers, 3PL providers, retailers, and FIBRAs/private equity — with no exposure to SMB or consumer channels.

Name

O’Donnell

Legal name

OD SRV, S.C.

Website

https://odonnell.com.mx

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

O'Donnell is a Mexico-based industrial real estate developer founded in 1994 that develops, leases, and asset-manages Class A in-fill and last-mile logistics warehouses for enterprise tenants (Audi, Kuehne+Nagel, Mattel) and institutional buyers (FIBRAs), managing ~1.26 million m² across nine markets and raising capital via BMV-listed CKD funds.

Ownership category

akta.pro rank

Product category

Industrial Real Estate Development and Investment

NAICS

Offices of Other Holding Companies (551112), Other Financial Vehicles (52599)

SIC

Investors, Nec (6799), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships) (BPAJANAF)

Keywords

• Industrial real estate development
• Logistics warehouse leasing
• Last-mile distribution facilities
• Build-to-suit industrial
• Industrial property investment

Headquarters

HQ city

Santa Fe De La Laguna

HQ country

Mexico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Industrial Property Development and Leasing: O'Donnell develops Class A industrial warehouses and parks for lease to corporate tenants in Mexico. Revenue is generated through rental income from properties across in-fill and last-mile segments.
2. Asset Sales: The company develops properties for eventual sale to institutional investors, REITs (FIBRAs), and private equity. Notable transaction: Puente México sold to FIBRA Prologis for USD 180.5 million.
3. Capital Management (CKD Funds): O'Donnell Capital Management (ODCM) operates publicly listed CKD funds on the Mexican Stock Exchange, raising capital from institutional investors. Currently raising Fund III at USD 250 million with USD 300 million hard cap.
4. Asset Management: Full-service asset management focused on maximizing performance, value, and profitability of industrial real estate portfolios through strategic planning and tenant relationships.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

O'Donnell is an industrial real estate investment and development firm that develops, leases, and manages Class A industrial warehouses and parks in Mexico, with a focus on urban in-fill and last-mile logistics properties. The company delivers build-to-suit projects, speculative industrial parks, and operates the BMV-listed ODOCK18 CKD fund to raise institutional capital. Core services span capital raising, land acquisitions, construction management, leasing, and asset management.

Product overview

O'Donnell operates as an integrated industrial real estate investment and development platform in Mexico. The company offers a portfolio of industrial properties focused on in-fill and last-mile logistics locations, including OD TLALPAN (microfulfillment), OD VALLEJO (last-mile), OD LA LAGUNA (speculative industrial park), and OD 888 (urban warehouses). These properties are complemented by a suite of services including capital raising, acquisitions, construction management, leasing, and asset management. The company manages capital through its publicly listed CKD vehicle (ODOCK18) on the Mexican Stock Exchange and is currently raising its third investment fund. The product ecosystem combines physical industrial real estate assets with investment management and operational services for tenants in the logistics, e-commerce, and manufacturing sectors.

Differentiator

Problem solved

Functional benefit

Brands

• OD La Laguna: Industrial park in Cuautitlán Izcalli with 87,445 m² designed for logistics operations
• OD Vallejo
• OD Tlalpan
• OD888

Products and services

• OD TLALPAN Modern industrial complex of 26,052 m² in Coyoacán (Mexico City) featuring micro-fulfillment and last-mile capabilities; the former Novartis corporate campus repurposed for urban logistics tenants.
• OD LA LAGUNA Speculative industrial park in Cuautitlán Izcalli with 87,445 m² total area designed for logistics operations, developed in phases with buildings from 11,713 m² to 87,042 m².
• OD VALLEJO Last-mile logistics project with total area of 91,128 m² in Mexico City's north, EDGE-certified, comprising multiple buildings including Edificio 2 (15,053 m²), Edificio 3A (7,568 m²), and Edificio 4 (7,136 m²).
• OD 888 Five warehouses with total area of 38,765 m² in Bondojito, Gustavo A. Madero (Mexico City); one of the first last-mile projects in Mexico City, combining connectivity, Class A infrastructure, and functional urban design.
• Capital Raising Services Securing capital through customized financing solutions, leveraging relationships with financial institutions to fund industrial real estate development.
• Acquisitions Active land acquisition for inventory buildings, build-to-suit projects, and value-added opportunities in strategic last-mile locations across Mexico's key markets.
• Construction Management Full construction process management to deliver high-quality, sustainable industrial spaces on time and within budget, with focus on operational efficiency and long-term value.
• Leasing Industrial leasing solutions offering state-of-the-art warehouses and distribution centers in strategic locations with flexible, sustainable spaces.
• Asset Management Full-service asset management focused on maximizing performance, value, and profitability of industrial real estate portfolios through strategic planning and tenant relationships.
• ODOCK18 CKD Investment Vehicle Publicly listed CKD (Certificado de Capital de Desarrollo) on the Mexican Stock Exchange (BMV) for institutional investors to invest in Mexican industrial real estate; fully invested by 2022.

Quantifiable outcome

• Sold Puente México (140,814 m²) to FIBRA Prologis for USD 180.5 million at 6.35% cap rate
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• FIBRA PrologiscoreStrategic or Co-development Partner · 1 January 2024Purchased O'Donnell's Puente México project (140,814 m²) for USD 180.5 million at 6.35% cap rate.
• FIBRA TerrafinacoreStrategic or Co-development Partner · 1 January 2013O'Donnell contributed its portfolio to FIBRA Terrafina, which closed with USD 665 million market capitalization. O'Donnell continues to manage 65% of Terrafina's properties.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Meor: Meor is a Mexican industrial real estate developer with a national footprint in BTS and speculative parks. Comparable in business model (development, leasing, fund management) and target tenant segments, particularly in the Bajío and central Mexico corridors where O'Donnell is also active.
• Vesta: Vesta is a NYSE-listed Mexican industrial REIT and developer with a Class A industrial portfolio concentrated in central Mexico. It is the most directly comparable public peer to O'Donnell given its similar tenant base (automotive, logistics), BTS development model, and exposure to nearshoring-driven demand.
• FIBRA Terrafina: FIBRA Terrafina is a major Mexican industrial REIT whose portfolio includes assets contributed by O'Donnell in 2013, with O'Donnell continuing to manage 65% of its properties. It is the closest peer in terms of asset overlap, though as an owner rather than developer.
• Aeris Industrial REIT: Aeris is a Mexican industrial REIT focused on Class A distribution and logistics facilities in key markets. Overlaps with O'Donnell in tenant base, geography, and product type, though operates primarily as an owner/landlord rather than active developer.
• FIBRA Prologis: FIBRA Prologis is the largest Mexican industrial REIT and a direct buyer of O'Donnell's stabilized assets (acquired Puente México for $180.5M in 2024). Comparable as both a competing developer and a recurring institutional exit channel for industrial product in Mexico.
• Advance Real Estate: Advance Real Estate is a Mexican industrial developer focused on Class A BTS and speculative product in northern and central Mexico. It directly competes for similar automotive, logistics, and e-commerce tenants in overlapping markets like Querétaro and Estado de México.
• FRISA Industrial: FRISA is one of Mexico's largest industrial park developers with multi-decade operating history and a portfolio comparable in scale to O'Donnell. Competes for similar Tier 1 multinational tenants and in-fill land positions across Mexico's key industrial markets.

Others

• CBRE Mexico: CBRE Mexico is the dominant commercial real estate services platform in Mexico, providing brokerage, valuation, and advisory services for industrial, office, and retail. While not a developer, it competes indirectly for institutional capital mandates and serves as a transactional counterpart to O'Donnell in the FIBRA/REIT exit market.

Broad incumbents

• Prologis: Prologis is the global industrial REIT leader with the dominant Mexico platform via FIBRA Prologis. While much larger and globally diversified, it competes head-to-head for BTS mandates, in-fill logistics sites, and large institutional tenant relationships (Audi, Kuehne+Nagel) in the same Mexican corridors as O'Donnell.

Emerging players

• BlueRiver Industrial Partners: BlueRiver is a Mexico-focused industrial real estate private equity platform that raises institutional capital and develops BTS/speculative product. Direct comparable in fund structure and Mexican industrial focus, though smaller and earlier-stage than O'Donnell.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/ODonnellMexico

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about O’Donnell