San Juan-based TransPerfect buys $30M property for future learning center
TransPerfect, a San Juan-based provider of language and technology solutions for global business, announced that its high-ranking officials have signed off on a $30 million property in Puerto Rico that will become the future home of TransPerfect’s Management Learning Center.
“The total investment…in the Puerto Rico-based facility signals the beginning of a new era for management training at TransPerfect,” said its CEO, Phil Shawe, and Chief Revenue Officer, Kevin Obarski.
The center will be a hybrid of conference facilities and accommodations and will feature meeting space with state-of-the-art technology and connectivity. The primary goal of the center is to foster learning and team building in a retreat environment, making group training more frequent, personal, and effective.
The estimated project timeframe includes a first quarter 2022 groundbreaking with a 12-month construction timeline. The company expects to hold its first meetings at the facility in 2023.
Paco Diaz of Luxury Collection Real Estate in San Juan served as the buyer’s agent for the transaction with financing arranged through Oriental Bank and legal representation provided by Gilberto Maymí-Pérez, the executives said.
“The strength of our culture is what defines TransPerfect. We’ve always invested heavily in face-to-face interactions between our employees, and those bonds are a big part of what has carried us to where we are today,” Obarski said. “This new facility takes that commitment to the next level.”
TransPerfect has grown 29% year-to-date in 2021, and recently surpassed the $1 billion mark in annual billed revenue. The company expects to hire hundreds of new employees in the years ahead, and the new learning center will support this growth.
TransPerfect’s Puerto Rico office has become a significant hub for technology and other operations, and the company is actively hiring in San Juan.
“There is just no substitute for bringing the staff together and training in a group environment,” Shawe said. Helping our people achieve their full potential is the foundation of TransPerfect’s success — and we look forward to hosting our team in the new Puerto Rico facility for years to come.”