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.
-
Domestic dispute leads to fatal police shooting in Lafayette
A man is dead after a police involved shooting in Lafayette Thursday, which occurred when officers responded to a domestic dispute.
'Indiana: Faces of the Fallen' honors Hoosier veterans no longer with us
A special exhibit at the Fishers Event Center honored fallen Hoosier veterans at Thursday's Indy Ignite Volleyball game.
Shooting on near eastside of Indy, man in critical condition
A person is in critical condition after a shooting on the near eastside of Indianapolis Thursday evening, IMPD said.
From threatening to trendy: How Fountain Square turned around in 30 years
Fountain Square is now one of the most popular places for people in Indianapolis to spend a night on the town. The neighborhood had a much more dangerous reputation 30 years ago.
