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.
-
Man arrested in Indianapolis woman's death near Indiana-Ohio state line
Police are investigating the death of person that died in the emergency department of Reid Health in Richmond. The coroner's office said evidence has indicated that foul play is involved.
Caitlin Clark leaves Fever's loss with a back injury
Caitlin Clark left the Indiana Fever's 111-109 loss to Phoenix with a back injury in the third quarter Wednesday night.
Indiana looks to artificial intelligence to root out Medicaid fraud
The Indiana FSSA has entered a 90-day pilot program with the U.S. CMS and Texas-based tech company Oracle, testing whether AI can stop “waste, fraud, and abuse”.
Marion Police commit to improving communication following Indiana I-Team report
The Marion Police Department says it’s working to ensure clear communication with victims' families following a report from Indiana's I-Team.
