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.
-
Marion Co Community Corrections to review protocol after arrestee escapes
Marion County Community Corrections says it will be reviewing its protocols moving forward after an arrestee escaped from a transport van on Tuesday.
Hamilton County opens first mental health crisis center in Noblesville
Aspire Indiana Health's Rely Center provides immediate support for suicidal thoughts, substance use crisis and psychiatric emergencies in a welcoming environment.
Pacers Aaron Nesmith visits Peyton Manning Children's Hospital for Halloween
Earlier this month, Pacers Aaron Nesmith, dressed as Batman, went room to room with the Pacemates, the team posted on social media.
Braun: 'Getting very close' on session call; Senate says votes aren't there
Gov. Mike Braun said Wednesday that Indiana is "getting very close" to a decision on calling a special session for redistricting.
