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.
-
INDYCAR updates full course yellow procedure after Sonsio Grand Prix incident
INDYCAR is changing its operating practice in calling for a full course yellow following the review of an on-track incident this past Saturday that involved Alexander Rossi in the Sonsio Grand Prix.
Indiana native Ephraim Owens returns to sing 'America the Beautiful' at Indy 500
Ephraim Owens, an Indiana native and former contestant on "The Voice," will reprise his performance of "America the Beautiful" during prerace ceremonies for this year's Indianapolis 500.
Police seek man who stole $5,400 in copper cables from Wayne Township school
The MSD Wayne School Police Department is asking for the public's help identifying a man wanted for theft of copper cables.
Terrific Tuesday, storms arrive overnight
A terrific Tuesday with sunny skies expected today. Rain chances will arrive but not until later this evening.
