The BEST Asset Class in Commercial Real Estate - Hunt Rose - Partner at TruCore Investments

In this episode of Masters of Moments, host Jake Wurzak sits down with Hunt Rose, co-founder of TruCore Investments, to dive into the business of Class B industrial real estate and what makes it one of the most resilient, overlooked asset classes in today’s market. Drawing on his experience in brokerage and acquisitions, Hunt explains how TruCore’s national platform finds value in under-managed, substitutional assets and why a fragmented ownership base presents a unique opportunity for investors with a focused strategy.

They also discuss:

• The risk-adjusted appeal of Class B industrial assets in infill markets

• Sourcing deals through local brokerage relationships across 150+ U.S. markets

• How TruCore approaches marking rents to market with legacy tenants

• The business case for converting gross leases to triple net structures

• Functional criteria they use to quickly screen new acquisitions

• Their “100 questions” underwriting playbook and due diligence process

• Fund structure, capital raising strategy, and investor communications

This episode is a practical, inside look at how a lean team is scaling a national industrial platform by sticking to fundamentals, staying disciplined, and building trust with tenants and investors alike.

Links:

Hunt Rose on X - https://x.com/nnn_industrial

Hunt Rose on LinkedIn - https://www.linkedin.com/in/hunt-rose-9229694b/

TruCore Investments - https://trucoreinvestments.com/

Connect & Invest with Jake:

Follow Jake on X: https://x.com/JWurzak

1 on 1 coaching with Jake: https://www.jakewurzak.com/coaching

Learn How to Invest with DoveHill: https://bit.ly/3yg8Pwo

Topics:

(00:00:00) - Intro

(00:00:38) - Landing a deal from a Podcast

(00:03:04) - Where are you investing?

(00:06:37) - Is sub-institutional scalable?

(00:09:00) - The business case for Class B Industrial

(00:13:00) - What’s the business plan when you acquire a property?

(00:15:42) - Why are rents often times below market?

(00:18:23) - Lease renewal approaches

(00:22:21) - Converting gross deals to NNN deals

(00:24:47) - Where do things go wrong on these deals

(00:27:25) - What kills a deal for you?

(00:30:30) - Making the entrepreneurial leap

(00:36:02) - How have you fine-tuned the acquisition process?

(00:38:35) - What do you do differently as an owner that the tenant would recognize?

(00:42:14) - The advantage and disadvantage of being the money from out of town

(00:45:35) - Are there any tenants you refuse to have on a property?

(00:47:54) - Holding strategies

(00:49:58) - Establishing a Fund

(00:54:09) - Raising capital

(01:03:36) - Reporting and investor relationships

(01:08:51) - What is your favorite hotel?

(01:09:55) - Get in touch with Hunt