San Diego has one of the largest millennial populations in the country, and they could have big implications for real estate investment.

Sabey Data Center Properties agrees to rent the entire top floor of its Lower Manhattan tower, known as the Verizon Building, to the architecture firm for 20 years.

The property has modest near-term rollover, and several of the tenants with expiring leases are currently negotiating renewals.

The city's population has nearly doubled since 2010; currently estimated to be approximately 11,000 people, and single-family development, Chalk Hill, is expected to accommodate some of that growth.