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.
-
2 people shot near Lugar Towers apartments in downtown Indy; 1 detained
Indianapolis police say a woman is in critical condition after being shot at a downtown apartment complex early Friday morning.
Soggy Friday with high heat and humidity arriving this weekend
oggy conditions on your Friday with warm and humid air pushing into the state. Lots of dry time this weekend, but the heat is on with temperatures climbing into the upper 80s.
Venezuelans in Indiana mourn deadly quakes, rally to aid rescue efforts
Venezuelans in Indiana are saddened and worried after the deadly quakes in Venezuela, which have killed at least 188 people.
Purdue students in Indianapolis build World Cup-themed pinball machine
In an international collaboration, five Purdue students in Indianapolis took their talents overseas to design and build a World Cup-themed pinball machine, a news release said Thursday.
