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.
-
IMPD: 3 juveniles, 18-year-old arrested for armed carjacking
Three juveniles and an 18-year-old have been arrested for their alleged involvement in an armed carjacking on Indy's near southwest side on Tuesday.
Hot, Humid, and Ready for Fireworks!
Central Indiana can expect classic summer weather for the 4th of July! We will hold off on any rain chances for most of the weekend.
I-70 Closure: Lanes back open after semi-fire in Greenfield
A semi-fire and crash has led to lane closures on I-70 near Greenfield Thursday morning. Officials said full access to the road is still expected to take several hours.
Indianapolis students learning the math and science behind building bikes
Biking is more than just a way to get around or stay active. A summer program is using them as a way to learn about science, math and engineering.
