Babson College will be moving in to South Boston’s Fort Point neighborhood, expanding from its current home in Wellesley.

The school has signed a 3,500-square-foot lease at 253 Summer St., according to a statement. The facility will be equipped with new classroom and conference room space and will begin hosting MBA courses in September.

"This announcement signals our commitment to Boston and the executives, the entrepreneurs and the students that live, work and travel there," said Leonard A. Schlesinger, president of Babson College. "We put a toe in the water with our Hatchery at One Marina Park, we are now landing on Summer Street and we look forward to a growing role in Boston’s Innovation District."

"An outstanding program for entrepreneurship is coming to an outstanding cluster for innovative businesses," said Boston Mayor Thomas M. Menino. "Babson and Boston are a great match. Colleges and universities are engines for talent and new businesses, and we know Babson will help fuel Boston’s growth."