The company has occupied its current space totaling 7,015 square feet at 655 Third Ave. for the last five years, during which time its New York-based headcount has nearly doubled.

The redevelopment of the NYPD parking garage is the first major milestone to arise from the Jamaica NOW Action Plan, a $153-million neighborhood revitalization initiative announced in 2015 by the de Blasio Administration, Queens Borough President Katz and the NYCEDC.

Brookfield Infrastructure, an affiliate of Brookfield Asset Management, has committed to fund half of the required initial equity investment, currently estimated to be approximately $613 million.

The San Francisco-based firm states that the property is located near bulk transmission lines, a major fiber path, as well as less than four miles from Digital Realty's existing data center campuses in Ashburn, VA.

The deal marks the fast growing healthcare real estate investment firm's entrance into the Minnesota marketplace.

The purchase of One Nashville Place marks the private real estate equity firm's entrance into the Music City commercial market.

GEICO plans to hire 700 new associates over the next several years after its expected to occupy the new 200,000-square-foot building in late 2019.

More than 1.4 million square feet of inventory has been converted to data centers since 2008 in the region. The pace of conversions has averaged 273,725 square feet since 2015, chipping away at nearly 2% of supply each