E-commerce entrepreneurs the Delmics spend millions diversifying with commercial real estate purchases
Miodrag and Dajana Delmic went on a buying spree for medium-sized office and industrial properties at the end of 2021.
The married couple and business partners live in Rocky Hill and operate major ammunition dealership Target Sports USA from a commercial park in Cheshire. The online ammo store was Delmics’ primary business, but the pair is diversifying and investing heavily in commercial real estate.
“This is the business I’m in,” 39-year-old Miodrag Delmic said of his online ammo and tactical supplies store. “But I do more.”
The couple bought three office buildings in Windsor in a package deal for $5.2 million and a 19,200-square-foot industrial building in West Hartford in a separate deal for $1 million in November, local real estate documents show.
Miodrag Delmic, an enterprising Bosnian immigrant, said he simply sees 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 makes sense. … It was a good deal with a lot of risk.”
The Windsor properties were available at a bargain price, selling for only about a third of the city appraiser’s recorded estimate of $15.7 million. The properties were sold by Indus Realty Trust, a commercial real estate company with offices in New York and Bloomfield.
Windsor properties include:
21 Griffin Road North, a 17.4 acre industrial lot with a 50,476 square foot office building constructed in 2003.
7 Waterside Crossing, an 80,524-square-foot office building built in 1983.
5 Waterside Crossing, a 11.8 acre industrial property with an 83,790 square foot office building constructed in 1983.
Delmic said the Windsor offices were a little over half occupied by “some really good tenants”. He believes that the office market will recover in a few years. If not, the buildings are structurally sound and could be converted into apartments, he said.
The Delmics also purchased a 19,200 square foot industrial building on a 1 acre lot in West Hartford in November for $1 million. This time, the price came in above the city estimate, which is $840,000.
The West Hartford property at Reed Ave. 94 was formerly the home of Barrieau Oil but was vacant for sale. Delmic said he bought it to stock inventory for his online store, including shirts, pants, gloves and other tactical gear used by law enforcement and recreational shooters.
Real estate is no stranger to the Delmics. In December 2020, they paid $1.1 million for a 12,150-square-foot warehouse in Cheshire.
In November 2020, the couple paid $2.2 million for an office building in Wethersfield, with plans to renovate and rent the building.
Miodrag Delmic said he plans to further diversify in 2022 and open a small venture capital firm. He hopes to start Delmic Capital from an office in downtown Hartford.