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.
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About Hyatt Commercial
Hyatt Commercial leads the commercial real estate industry from its Annapolis, Maryland, headquarters. For more than 65 years, the firm has served local, regional and national clients. Through The Reliable Group, its affiliates provide property management, commercial construction, brokerage and land development management. Together, these services help clients shape the region’s real estate landscape. Learn more at hyattcommercial.com and follow us on Facebook, Instagram, X, or LinkedIn.
About Peterson Companies:
As one of the largest privately-owned real estate development companies in the Washington, D.C. region, Peterson Companies has more than 60 years of experience creating places that bring people together. The company’s diverse portfolio spans mixed-use, retail, residential, office, industrial and self-storage properties, with a long-standing commitment to meaningful development and positive impact across the region. Peterson Companies’ portfolio includes some of the region’s most prominent destinations, including National Harbor, Rio, Fairfax Corner, Fair Lakes and Tysons McLean Office Park. Combining market expertise with a fully integrated development platform and long-term ownership mindset, Peterson Companies creates vibrant places that connect people with experiences, communities, neighborhoods, supply chains and information. For more information, visit www.petersoncos.com.