Can I move Lightroom Library.library file location

Hi,

I just installed Lightroom and edited the preferences to store smart previews and orginals locally.  I then specified the folder for the local storage (not my Pictures folder).  After restarting Lightroom, I noticed that the library file (i.e. Lightroom Library.lrlibrary) is still in the Pictures folder.  Is there any way to change where that file gets created?  I'm on a Mac (if that matters).

Thanks!