Massachusetts Lawyer Blog

Commercial real estate development and deals are heating up in Weymouth, Massachusetts. As a Weymouth lawyer and elected town councilor, I'm seeing good economic signs in these difficult financial times. Weymouth, MA is poised to grow into a healthy business community for entrepreneurs and established businesses.

Convenient & Accessible by Car or Train

With gas prices rising, Weymouth remains a short drive to local beaches and recreation areas and it's only a one hour drive to a long weekend on Cape Cod or a reasonable drive to Boston (or 20 minute train trip to South Station). Weymouth is a suburb with three commuter rail stations (two Greenbush Line trains and one Old Colony line station) providing attractive new commuting options between Boston and the South Shore. While always considered somewhat of bedroom community of Boston, Weymouth is now an attractive place for economic opportunities and jobs on its own.

South Weymouth Naval Air Station Redevelopment

At each dinner party or event I attend people are asking what is happening at the old South Weymouth Naval Air Station (now Southfield) where 2855 housing units and 2 million square feet of commercial space are planned (along with recreation areas and other amenities). The recent conversations also include talks of Hollywood East coming to Weymouth. A potential movie studio deal seems to hinge on tax credits recently approved by the House. This would be solid anchor tenant for the air base's redevelopment and would provide a new local economic driver with good jobs and economic stimulus for the entire South Shore. But economic development is not limited to this site only.

Growth

The South Shore Hospital's expansion and new cancer facility are going up fast along Route 18. The Rt. 18 intersections work is advancing and plans for the widening of Rt. 18 and a new Fore River Bridge in North Weymouth are also in the works. Further south along Route 18 towards the Abington line, a new CVS is replacing formerly vacant buildings. Other areas are seeing similar growth and transformation. Yesterday, The Boston Business Journal reports:

Foxrock Properties has acquired an office building at 90 Libbey Parkway in Weymouth from 90 Libbey Parkway LLC for $11.5 million.

The 80,000 square-feet building is located in more than five acres off Middle Street. Tenants at the time of the sale included: South Shore Hospital, Brigham & Women’s Hospital and South Coast Dermatology. After the sale, South Shore Sports Therapy signed a lease for 11,000 square feet.

Whether it's the new medical buildings emerging in the area (many have) or the influx of new medical companies, Weymouth is becoming an attractive option for those looking to live in a town that offers the business opportunities of a city. This is true for both big and small companies -- recently I was invited to attend the opening of Patricia & Company, a medical boutique that serves the cosmetic needs of oncology patients.

The Right Time

While the economy is undergoing its challenges and trying times look to still lie ahead, this may be an opportune time for business growth in Weymouth, especially in the areas of life sciences, bio-tech, entertainment, and health services. Additionally, growth in these industries will be a boom for the many ancillary businesses that will support this growth. While property values are eroding elsewhere, this may also be an opportunity for Weymouth to maintain or grow its residential value and position itself for a leap forward when the economy does turn around.

An Improving Community

With economic development in sight and a strong and expanding medical community emerging, Weymouth, Massachusetts is moving in directions for MA business owners and entrepreneurs to consider. Whether you work with our law firm's attorneys or not, I'd be happy to speak with any business thinking of relocating to the Weymouth area. As an elected councilor (at large) in Weymouth, I'm happy to help local business owners do well in these challenging economic times. It's not just good business, but it's good for our local community and our local families.