Mike Perez notched his second straight 66 to move into second place at minus-12. Jeff Quinney also posted a 66 and stands alone in third at 11-under- par 133.
Justin Bolli climbed into fourth place at minus-10 thanks to a 7-under 65. John Merrick also shot 65 to move into fifth at 9-under-par 135.
Turcott, who qualified for this event on Monday, opened with back-to-back birdies from the 11th at Troy Burne Golf Club to move to 10 under par.
After a pair of pars, Turcott birdied the par-4 15th and par-3 17th.
Turcott, who got married last Saturday, birdied the first two par-5s around the turn, Nos. 1 and 4. That got him to 14 under. He parred his next four holes before slipping to a bogey on the ninth, his last as his lead dipped to one stroke.
'That's the only mistake to cost me,' said Turcott, a Canadian Tour player who is making his first start on the Nationwide Tour this season. 'I wasn't a big fan of that left to right wind with out-of-bounds on the left. It can't all be good and you're going to have some bad shots, it's just how you react to it.'
Perez got off to a flying start as he birdied the first and second. A birdie on the fourth got him to minus-9.
The 26-year-old carded his fourth birdie of the day on the par-4 sixth. Perez parred his next four holes before posting a birdie on the par-5 11th. He got to 12 under with a birdie at 15, but ended there as he parred the final three holes.
'I'm trying something different and letting the chips fall where they may,' said Perez, whose brother Pat is a PGA TOUR player. 'I know I can hit the shots and now I'm playing with the right attitude. It's working so far.'
Jess Daley, Joe Daley and Brandt Snedeker each carded rounds of five-under 67 Friday to move to 7-under-par 137. They were joined in sixth place by Kyle Thompson (68), Mario Tiziani (71), Stiles Mitchell (70), Tim O'Neal (70), Travis Perkins (71) and Cliff Kresge (70).
Tripp Isenhour is one of seven players one stroke further back at minus-6.
The cut line fell at 3-under-par 141 with 66 players moving on to the final two rounds. Ken Duke, who is sixth on the money list, and Brendan Pappas, eighth on money list, were among five players in the top-20 on the money list to miss the cut this week.