NOBLESVILLE — Terry Lee Hyundai and Genesis of Noblesville is now under new ownership after owner Terry Lee announced his retirement.
The dealerships were purchased by Penske Automotive Group.
“It is bittersweet to leave an industry I have worked in my entire life, but I know Penske Automotive will continue to serve the community and customers with the same high standards I and my team strove for,” Lee said in a press release. “I am especially proud of the dealerships’ innovative design, which allows them to take advantage of synergies while maintaining separate brand identities.”
It is unknown whether the name of the dealerships will change.
In 2014, Terry Lee started Terry Lee Crossing, a 72-acre commercial real estate development on Highway 37, just ten minutes north of Indianapolis in Noblesville. In 2015, he built new dealerships for the Genesis and Hyundai franchises with room for five more manufacturers or other commercial properties, creating the commercial area known as Terry Lee Crossing.
Penske says the acquisition is expected to generate annualized revenue of $80 million.
-
'Eyes on the Child: Water Safety' campaign aims to prevent drownings
While aquatic recreation can be fun, it can also be dangerous. Drowning is the leading cause of death for children one to four years old, according to the CDC.
Hamilton County two two-hour course teaching kids to ride bikes
What if there were a course that could teach your kids to pedal (without training wheels) in less than two hours? Learn2Ride started three summers ago in hopes of accomplishing this task.
“I hurt somebody”: Body camera reveals moments after deadly drunk driving crash
Newly obtained body camera footage is shedding light on how police officers handled a 2022 crash that left one man dead and injured several people.
Environmental groups call for public input on state's environmental regulations
Environmental advocates are calling on Hoosiers to express their concerns to the Indiana Department of Environmental Management.
