Karma Automotive Dealer Principal Val Ranguelov says he selected the site for a Jacksonville dealership because it was one of the few options for where he wants to be.
He intends to invest $5 million to buy the site at northeast Beach Boulevard and Interstate 295 and build the electric vehicle dealership.
“There isn’t much available now in the part of town we want to be in that would work,” Ranguelov said.
“This property was in a great location and was not on the market yet and would work well.”
California-based Karma Automotive intends to enter the Jacksonville market in March.
The city granted property owner Harbor Point Properties LLC a zoning exception and an administrative deviation for Karma Automotive Distribution LLC to operate a service garage for repairs and retail sales of new or used autos by a franchised dealer at the 1.042-acre site at 11619 Beach Blvd.
Classic Home Furniture closed there. Ranguelov intends to renovate the 16,481-square-foot building at the location that was developed in 1989.
