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.
-
Town of Speedway seeking admissions for Centennial Time Capsule
The Speedway Centennial Planning Committee is asking for items such as photos and letters to include in a time capsule, marking the 100th anniversary of the founding and incorporation of Speedway.
Indy 500 qualifying expanded to add Final 15 round on Sunday
IndyCar announced Monday that it’s adding an additional qualifying round on Sunday called the Final 15.
IMPD officer shot on north side of Indianapolis released from the hospital
The officer who was shot on Friday night on the north side of Indianapolis has been released from the hospital, and the man accused of shooting him has been arrested.
IMPD: Woman pedestrian killed in a hit-and-run on far east side of Indianapolis
Investigators were called around 2:45 p.m. to the 4300 block of North German Church Road on the report of a person down.
