GAITHERSBURG, MD — Sept. 2, 2026 — Hyatt Commercial announced the $11,075,000 sale of 9841 Washingtonian Blvd. The 103,360-square-foot office building is located within Rio in Gaithersburg, Maryland. The transaction settled on Aug. 25, 2026.
Hyatt Commercial’s Investment Sales Team of Cecil Cummins, Eric Pinkett, and Owen Wellschlager represented the seller, TBC-Washingtonian LLC. Peterson Companies acquired the property through affiliated entities.
Hyatt brought the property to market on May 18. The listing immediately attracted interest from a diverse group of prospective buyers. Following a competitive bidding process, Peterson Companies emerged as the ideal buyer. The company brought a proven track record, deep market knowledge, and the ability to execute quickly.
“This process generated strong interest and competitive bidding, ultimately closing in less than 100 days from the property hitting the market,” said Cecil Cummins, Executive Vice President at Hyatt Commercial.
The five-story, Class A office building offers a lakefront setting within Rio, Peterson Companies’ open-air mixed-use lifestyle center. Additionally, the property provides convenient access to Rio’s many amenities.
“We’re seeing that businesses are making thoughtful decisions about where and how their employees work, and the environment around the office is increasingly part of that decision,” said Peterson Companies Senior Vice President of Leasing Kimli Cross. “We believe the most successful office environments are those that are integrated into a broader destination. At Rio, employees and businesses have access to shopping, dining, fitness, entertainment, greenspace and walkable lakefront trails, as part of the everyday workplace experience.”
The acquisition also expands Peterson Companies’ regional portfolio to more than 4 million square feet of Class A office space. The company owns and manages these properties throughout the Washington, D.C. region. Many are located within its mixed-use environments. Additionally, its office portfolio includes properties at National Harbor, Fairfax Corner, and other key locations across the region.
Also covered by CoStar, Moco Show, Citybiz, Bizjournal
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