BOSTON (CBS) — General Electric, which announced in January it was moving its corporate headquarters to Boston, has chosen a location for it’s “urban campus,” the company announced Thursday.

The company will move into a 2.5-acre property along Necco Street in the Seaport District that includes existing buildings and new construction.

READ MORE: Oil Spill Settlement To Fund Loon Conservation Projects

“South Boston is a major hub for innovation and development and GE is excited to be a part of such a dynamic and creative ecosystem that is leading the future,” GE Vice President Ann Klee said in the company’s statement.

“This centrally-located property presents an excellent opportunity to enhance the Seaport District and the surrounding community. We look forward to bringing our headquarters to South Boston.”

The property is under agreement to be purchased from P&G and includes two historic buildings, which the company said will be renovated.

READ MORE: Connecticut Becomes 1st State To Make All Prison Phone Calls Free

More: Keller @ Large: We Need More Than Just General Electric

GE said employees will first move to a temporary Farnsworth Street location this summer, before completing a full move in 2018.

The company said it will have about 800 people–200 corporate staff members and 600 digital industrial product managers, designers, and developers–in Boston.

MORE NEWS: 5 Rescued From The Water After Boat Overturns Near Marion

GE Chairman and CEO Jeff Immelt said Boston beat out 39 other cities in the company’s search for a new headquarters.