Meadors Adams Lee In Downtown Little Rock

Little Rock insurance firm plans Fayetteville expansion

The owner of one of Arkansas’ oldest privately held independent insurance agencies is investing in downtown Fayetteville to establish a second location.

Roberts Lee, principal of Meadors Adams and Lee (MAL) in downtown Little Rock, recently closed a $1.35 million deal to acquire a 3,686-square-foot building at 109 N. Block Ave. for sale in downtown Fayetteville.

The listing agent was Anthony Smith at United Country NWA Real Estate in Fayetteville. Jackson Williams with Griffin Co. Commercial in Springdale represented the buyer.

Bob’s Studio of Photography was the most recent tenant.

Lee said he carefully considered several locations in Northwest Arkansas before deciding on an investment in downtown Fayetteville.

“We will be equally thoughtful about how we develop that location,” he said. “We consider Block Street a special place and Fayetteville a special place. We want to be very thoughtful about what goes on there. And we want it to be a complement to Fayetteville.”

He said building a talent pipeline with University of Arkansas graduates will be a critical factor in the Fayetteville office’s growth strategy. MAL has 41 employees.

“We’re all in the U of A,” Lee said.

There is no timeline yet for the opening of the new office. Lee said it will be developed as a mixed-use building.

“We are not going to rush,” he said. “We’re going to do it right. We had a lot of interest from a lot of people who wanted to be a part of it.”

MAL has been selling insurance since 1909, when it was founded as the Campbell Agency by Gordon H. Campbell.

Allan Meadors and Jake Adams are the headliners of the modern era, and the name changed to Meadors and Adams Inc. in 1985. alter. Lee, who joined the agency in 1998, became a principal in 2005, and the agency changed to Meadors Adams & Lee. Lee has been the sole owner since 2016.

“[Meadors and Adams] means a lot to me and the legacy of the company means a lot to me,” said Lee. “The only way for me to get value out of the company is to grow it. I’m 51, and time is wasting. I have to start working on it.”

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