Ian Ross founded SomeraRoad in 2016, bringing a fresh, entrepreneurial approach to opportunistic real estate in growing secondary cities nationwide. He has since led the firm’s rapid expansion, overseeing nearly $2.5 billion in acquisitions of 25+ million square feet in more than 70 unique markets. Ian has also augmented SomeraRoad’s core value-add business, building new verticals in industrial net lease, distressed debt, and opportunity zone investing and creating a robust ground-up development practice. Today, SomeraRoad is arguably the fastest-growing commercial real estate investment and development company in the USA.
On this episode, Jake and Ian discuss:
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Links:
Topics:
(00:00:00) - Intro
(00:03:50) - Ian’s entrepreneurial journey
(00:06:27) - Biggest lessons learned on someone else’s dime
(00:08:37) - Do local operators tend to miss out on macro trends?
(00:15:09) - Early decisions to make when considering entering a new asset class
(00:20:05) - Raising capital & funds
(00:28:47) - Focusing on neighborhoods instead of cities
(00:31:13) - Setting up local offices
(00:34:36) - How has your thoughts on placemaking changed?
(00:41:45) - What’s your approach to hospitality?
(00:46:23) - How much do you think about competitors in your local market?
(00:50:58) - 1 Hanover Square
(00:56:51) - Keeping teams interconnected and hiring,
(00:59:39) - How do you keep the pulse on whether you’re hitting goals?
(01:00:45) - The industrial net lease space
(01:02:26) - Where do you get inspiration?
(01:04:41) - What are your goals for the next 5 years?
(01:05:29) - What’s been your favorite deal?
(01:08:27) - What’s your favorite hotel?