• Thu. Dec 1st, 2022

E-commerce entrepreneurs, the Delmics, are spending millions to diversify with commercial real estate purchases

Miodrag and Dajana Delmic embarked on a buying spree for office and mid-rise industrial buildings in late 2021.

Partners in marriage and business, the couple live in Rocky Hill and run the Target Sports USA bulk ammunition vendor on a Cheshire industrial property. The online ammo store has been Delmics’ main business, but the couple are branching out and investing heavily in commercial real estate.

“It’s my job,” Miodrag Delmic, 39, said of his online store of tactical ammunition and accessories. “But I do more than that.”

The couple bought three office buildings in Windsor as part of a $5.2million overall deal in November, as well as a 19,200 square foot industrial building in West Hartford as part of a separate deal $1 million, according to local real estate records.

Miodrag Delmic, an enterprising Bosnian immigrant, said he simply saw a good, if somewhat risky, investment opportunity.

“It’s risky because of the general office market,” Miodrag said. “If you look at the amount of proceeds for the amount invested, it made sense. … It was a good deal with a lot of risk.

Properties in Windsor were sold at a bargain price, selling for about a third of the $15.7 million valuation recorded by the city’s assessor. The properties were sold by Indus Realty Trust, an industrial real estate company with offices in New York and Bloomfield.

Windsor properties include:

21 Griffin Road North, a 17.4 acre industrial estate 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 industrial estate with an 83,790 square foot office building built in 1983.

Delmic said the offices in Windsor are just over half occupied by “very good tenants”. He thinks the office market will strengthen 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, 1 acre industrial building in West Hartford for $1 million in November. This time, the price exceeded the city’s assessment, which is $840,000.

The West Hartford property at 94 Reed Ave., previously housed Barrieau Oil, but was vacant for sale. Delmic said it purchased it to stock inventory for its 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 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 lease the building.

Miodrag Delmic said he plans to diversify further in 2022, opening a small venture capital firm. He hopes to launch Delmic Capital from an office in downtown Hartford.