Commercial real estate services provider adopts digital twins, cuts costs and leasing timelines for customers including KIMCO and Phillips Edison
SUNNYVALE, Calif. – Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced that ID Plans, a commercial real estate (CRE) marketing and technology solutions provider, has helped property managers achieve up to 65 percent in cost and time savings by adopting Matterport digital twins.
Established in 1999 and based in Tampa, Florida, ID Plans has a nationwide client base with some of the top CRE firms in the country, including KIMCO and Phillips Edison. The company’s ID 360 product has a feature that uses Matterport digital twins to create immersive property experiences and identify new customer prospects captured from any device. From leasing to property management, whether it’s retail, multi-family or logistics, ID Plans utilizes Matterport throughout the life of the building lifecycle.
“Finding a potential buyer or tenant for a commercial property often requires manual photography, detailed measurements and significant time and effort,” said Jordan Hearin, Chief Product Officer of ID Plans. “Instead, we use Matterport as a feature in ID 360 to quickly and easily give customers all of the information they need in one place. Whether it’s the ability to virtually walk through a warehouse, take accurate measurements, or easily access a property’s plumbing or electrical information, the level of detail in a Matterport digital twin can help our customers lease, sell, design or plan construction for a commercial space.”
ID Plans has partnered with Matterport to improve multiple aspects of its business. ID Plans uses digital twins to create accurate, user-friendly marketing ready packages to improve speed to lease, while their facilities management and operations teams utilize Matterport for remote site inspections and collaboration across their construction and design teams. When equipped with digital twins, ID Plans’ customers reduce the time required to lease a property by several weeks and upwards to months.
“Within the property sales and leasing segment, the biggest drivers of demand for digital twins have been in retail and office leasing where brokers use digital twins to qualify and lease properties faster while tenants look for creative ways to visualize potential spaces,” said Archana Kshirsagar, Head of Business Strategy, Commercial Real Estate at Matterport. “In the property design and facilities management segment, Matterport’s CRE customers use remote collaboration to reduce unnecessary business travel as companies look for ways to optimize project development services and equipment repair and installations.
To learn more about how ID Plans is using Matterport, read the case study here. Learn more about how Matterport is transforming the real estate industry here.
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
©2022 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.
About ID Plans
For two decades, ID Plans has been a leader in the commercial real estate technology industry, providing innovative and efficient software solutions, along with world-class customer service to each of its clients. Headquartered in the heart of the growing tech community in downtown Tampa, Florida, ID Plans has a national reach, serving some of the top CRE firms in the country, such as NewMark Merrill Companies, Publix Super Markets, Inc., Phillips Edison & Company and Regency Properties. For more information, visit IDPlans.com.
Media Contact:
Tim McDowd
Director, Communications
press@matterport.com
+1 (650) 273-6999
Investor Contact:
Soohwan Kim, CFA
VP, Investor Relations
ir@matterport.com
Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the benefits of the business combination, the services offered by Matterport, Inc. (“Matterport”) and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Matterport’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including the expected benefits of Matterport’s partnership with ID Plans, Matterport’s ability to implement business plans, forecasts, and other expectations in the industry in which Matterport competes, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the U.S. Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.
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