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.
-
Keystone Avenue ramp closure and I-65 lane restrictions to begin this month
Starting on or after May 17, the exit ramp from northbound I-65 to Keystone Avenue will close for reconstruction until August. Lane restrictions will also be implemented on I-65.
Former Plainfield correctional officers charged with theft for falsifying hours
Hendricks County prosecutors criminally charged two former state prison employees with official misconduct, fraud and theft.
Riverside Adventure Park opens in Indianapolis
Indy Parks has revitalized one of the city's most historic parks with new playground equipment and trials while highlighting nature in the central part of the Circle City.
Over 2 million Ninja pressure cookers recalled after reports of burn injuries
SharkNinja is recalling more than 2 million pressure cookers sold in the U.S. and Canada — after consumers reported over 100 burn injuries spanning from a hazard that can cause hot food to spew out.
