outparcel

outparcel

(1) A small lot at the outer edge of a shopping center, usually reserved for later sale to a fast-food outlet or chain restaurant; also called a pad site. Many important mall tenants will reserve some control over outparcel development by virtue of agreements in their operating and easement agreement with the mall owner. (2) A small lot the original developer could not obtain when purchasing a large site for a shopping center. The problem with outparcels is the impact future development will have on existing mall tenants, who may find visibility obstructed with new construction, common area maintenance expenses increased because of dramatically increased lighting requirements, and parking problems if the outparcel customers use mall parking places. (See example.)

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A recently opened Panera Bread restaurant is an outparcel tenant but is not a part of the offering.
The property is an outparcel in front of Rivoli Crossing, a 95,977 square foot neighborhood center purchased by Coro Realty and Harbour Retail Partners in July 2013.
Beautiful outparcel in front of power center anchored by Lowe's, Chili's, Verizon, Race Trac, retail, hotels and restaurants.
Exclusive of the estimated market value of an adjoining outparcel which is included in the purchase price, the total purchase price equates to an average cap rate of approximately 9.
The existing pipeline that conveys flow from the well to Lake Dan discharges within a private property outparcel next to the lake.
The sale to Fingerlakes Mall Acquisition, LLC, included three components, the 427,407 s/f enclosed mall, four approved outparcel sites totaling 5.
For outparcel information within the Fayette Mall shopping complex, interested firms should contact Phil McNeely, Director of Peripheral Property, ext.
The retail purchase includes 99,579 s/f of outparcel property, bringing the total area acquired to 939,874 square feet.
The loan is secured by four suburban office properties and four outparcel restaurants, totaling 825,061 square feet, located in Costa Mesa, CA.
The transaction's only remaining loan is collateralized by The Oaks Mall, a super regional mall consisting of 335,959 square feet (sf) of in-line space and 22,056 sf of outparcel space.
For outparcel information, please contact Tom Reddy, assistant director of peripheral property, telephone 800-333-7310, ext.