Peterson Cos. snags office building within its Rio development for $11.8M

September 2, 2026 I Washington Business Journal – Fairfax developer Peterson Cos. recently bought a 103,000-square-foot office within Rio, the company’s massive mixed-use shopping and dining district in Gaithersburg.

Peterson acquired the five-story, Class A office at 9841 Washingtonian Blvd. for $11.8 million in a sale that closed on Aug. 25. The seller was TBC Washingtonian LLC, an affiliate of The Brick Cos., an Edgewater, Maryland-based real estate developer.

Cecil Cummins, executive vice president of Hyatt Commercial, represented the seller alongside Eric Pinkett, a senior sales associate at the firm, and Owen Wellschlager, a sales associate.

Hyatt Commercial received seven offers for the building within 30 days of listing it, illustrating strong demand for well-located office investments in this area of suburban Maryland, Cummins told me. Peterson made the most sense for the property because of its existing involvement in Rio, he said.

To read the full article on Washington Business Journal’s website, click HERE.