E-commerce entrepreneurs the Delmics spend millions diversifying with commercial real estate purchases
PHOTO | COSTAR
The Delmics bought this 80,524-square-foot office building at 7 Waterside Crossing in Windsor for $1.35 million.
Miodrag and Dajana Delmic went on a buying spree of mid-sized office and industrial properties in late 2021.
Partners in marriage and business, the couple live in Rocky Hill and run bulk ammunition vendor Target Sports USA out of a Cheshire industrial property. The online ammo store has been the Delmics primary business, but the couple is diversifying, investing heavily in commercial real estate.
“That’s the business I’m in,” 39-year-old Miodrag Delmic said of his online ammo and tactical accessories store. “But I do more than that.”
The couple bought three office buildings in Windsor in a $5.2 million package deal in November, as well as a 19,200-square-foot industrial building in West Hartford in a separate, $1 million deal, local property records show.
Miodrag Delmic, an enterprising Bosnian immigrant, said he simply saw a good, if somewhat risky investment opportunity.
“It’s risky because of the office market in general,” Miodrag said. “If you look at the amount of product for the amount invested, it kind of made sense. … It was a good deal with a lot of risk.”
The Windsor properties came at a bargain price, selling for just about one-third of the $15.7 million appraisal recorded by the town assessor. The properties were sold by Indus Realty Trust, an industrial real estate company with offices in New York and Bloomfield.
The Windsor properties include:
21 Griffin Road North, a 17.4-acre, industrially-zoned property with a 50,476-square-foot office building built in 2003.
7 Waterside Crossing, an 80,524-square-foot office building built in 1983.
5 Waterside Crossing, an 11.8-acre, industrially-zoned property with an 83,790-square-foot office building built in 1983.
Delmic said the Windsor offices are a little more than half occupied by “some really good tenants.” He believes the office market will strengthen in a few years. If it doesn’t, the buildings are structurally solid and could be converted to apartments, he said.
The Delmics also bought a 19,200-square-foot industrial building on 1 acre in West Hartford for $1 million in November. This time, the price tag came in over the town appraisal, which is $840,000.
The West Hartford property at 94 Reed Ave., previously was home to Barrieau Oil but was vacant at sale. Delmic said he bought it to store inventory for his online store, including shirts, pants, gloves and other tactical gear used by law enforcement and recreational shooters.
The Delmics are no strangers to real estate. In Dec. 2020, they paid $1.1 million for a 12,150-square-foot warehouse in Cheshire.
In Nov. 2020, the couple paid $2.2 million for a Wethersfield office building, with plans to renovate and lease the building.
Miodrag Delmic said he plans to further diversify in 2022, opening a small venture capital company. He hopes to launch Delmic Capital from an office in downtown Hartford.
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