March 23, 2023

Little Rock insurance coverage agency plans Fayetteville enlargement

The proprietor of certainly one of Arkansas’ oldest privately owned unbiased insurance coverage companies is investing in downtown Fayetteville to ascertain a second location.

Roberts Lee, principal of Meadors Adams & Lee (MAL) in downtown Little Rock, not too long ago closed a $1.35 million deal to purchase a 3,686-square-foot constructing at 109 N. Block Ave. in downtown Fayetteville.

The itemizing agent was Anthony Smith with United Nation NWA Actual Property in Fayetteville. Jackson Williams with Griffin Co. Business in Springdale represented the client.

Bob’s Studio of Pictures was the newest tenant.

Lee stated he rigorously thought of a number of Northwest Arkansas places earlier than selecting an funding in downtown Fayetteville.

“We can be equally as considerate about how we develop that location,” he stated. “We view Block Road as a particular location and Fayetteville as a particular place. We wish to be very considerate about what goes there. And we wish it to be a complement to Fayetteville.”

He stated constructing a expertise pipeline with College of Arkansas graduates can be a essential issue within the Fayetteville workplace’s progress technique. MAL has 41 workers.

“We’re all in on the U of A,” Lee stated.

There may be but to be a timeline for opening the brand new workplace. Lee stated it might be developed as a mixed-use constructing.

“We’re not going to get in a rush,” he stated. “We’re going to do it proper. We’ve had a variety of curiosity from lots of people desirous to be a part of it.”

MAL has been promoting insurance coverage since 1909, when it was fashioned because the Campbell Company by Gordon H. Campbell.

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Allan Meadors and Jake Adams are the modern-era principals, and the identify modified to Meadors and Adams Inc. in 1985. Lee, who joined the company in 1998, turned a principal in 2005, and the company rebranded to Meadors Adams & Lee. Lee has been the only real proprietor since 2016.

“[Meadors and Adams] imply so much to me and the legacy of the corporate means so much to me,” Lee stated. “The one method for me to get worth out of the corporate is to develop it. I’m 51, and time’s losing. I’ve acquired to get to work on it.”