Livestrong Foundation Sells East Austin HQ Building

EAST AUSTIN, TX — Notley Ventures has bought the headquarters building of Livestrong Foundation, a cancer-fighting nonprofit once closely associated with bicyclist Lance Armstrong, according to published reports.

The Austin American-Statesman reported April 19 that Livestrong sold its 30,000-square-foot facility at 2201 E. 6th St. for $17 million. That's an increase of nearly 200 percent from the $5.8 million the nonprofit spent on the building in 2008, according to the report.

The deal calls for Livestrong to lease the building back from Notley for six months as it searches for new office space for its 23 employees, according to the report in the Statesman.

Livestrong CEO Greg Lee told the newspaper the nonprofit would be able to service more cancer patients by selling the building. According to the nonprofit's 2017 annual report (the most recent available), the foundation listed $58 million-plus in assets and $12 million in annual revenue.

The nonprofit was founded by the disgraced cyclist in 1997 before he fell out of favor for finally revealing he had been doping for many years in order to secure several Tour de France titles. As news of his admission spread, people started to return their "Live Strong" bracelets in droves. The foundation itself distanced itself from its founder, who ultimately resigned in 2012 from the nonprofit he founded.

>>> Read the full story in Austin American-Statesman