TestFit Industrial will reduce property evaluation from weeks to minutes in the white-hot warehouse construction market
DALLAS, TX — TestFit Inc., the maker of advanced real estate configurator software, announced the release of its solution for industrial properties and warehouses. The new building configurator is designed specifically for real estate developers and companies conducting feasibility studies for warehousing, storage, and distribution spaces. The configurator enables companies to evaluate potential sites in a fraction of the time required in a traditional evaluation process.
“We established TestFit and our building configurator product in the multifamily and commercial real estate markets, and we are now addressing the need for time-saving solutions for property developers in the industrial sector,” said Nat MacDonald, Product Owner at TestFit. “This is a significant market that needs to accelerate construction timelines, and TestFit Industrial will help developers meet the demands of retailers, e-commerce, and logistics companies faster.”
A record 410 million square feet of warehouse space was under construction in Q2 of 2021, but absorptions lagged behind completions by nearly 44 million square feet. The shortage in supply is causing prices for new warehouse spaces to soar as much as 25%. The pandemic accelerated the growth of ecommerce even as supply chain disruptions spurred companies to reshore inventory to add resilience to their distribution networks. Today, companies are competing aggressively for warehouses, creating a strong need for solutions to shorten construction timelines for industrial properties.
“TestFit definitely speeds up a very cumbersome process,” says Mike Jones, Executive, Pankow Builders. “[TestFit Industrial] helps to remove risk for developers during the site evaluation process. I believe TestFit is on its way to becoming the standard bearer for go/no-go decisions regarding the early financial wherewithal of a development deal.”
TestFit’s configurator for industrial properties enables developers and architects to rapidly model features such as single and cross-loaded docks, car parking ratios, trailer parking ratios, detention ponds, building size constraints, interior space allocation, and truck turning radii for any plot of land. Designs are rendered using TestFit’s algorithms, enabling companies to quickly estimate hard and soft costs, revenue, and land costs for any feasibility study. TestFit enables property developers to evaluate a building site in minutes, to explore multiple layouts, and modify designs in real time with stakeholders and city officials.
The new software has gone through an extensive beta testing process with architects, general contractors and real estate developers, and the team behind TestFit is confident this will be a meaningful innovation for industrial feasibility. TestFit’s configurator for industrial properties is available now through the TestFit website.