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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announced the sale of its 1.56-acre outparcel that is subject to a ground lease with Wawa located in Winter Park, Florida for approximately $2.8M.
(HFF)announces financing for the acquisition and renovation of Seneca Place, a 41,310-square-foot retail strip center and outparcel pad located in Charlotte.
is in the forefront of turning parking space into new dining destinations at McCain Mall, unlike Sears and Macy's it isn't actively pursuing leasing outparcel space as a revenue source.
(HFF) announces financing for the acquisition and renovation of Seneca Place, a 41,310-square-foot retail strip center and outparcel pad located in Charlotte, North Carolina.
A 7,000 s/f outparcel is occupied by Buffalo Wild Wings and a second, 5,000 s/f out-parcel by Applebee's.
Beautiful outparcel in front of power center anchored by Lowe's, Chili's, Verizon, Race Trac, retail, hotels and restaurants.
A recently opened Panera Bread restaurant is an outparcel tenant but is not a part of the offering.
M2 EQUITYBITES-April 23, 2014-AmREIT signs lease with El Tiempo for outparcel at Woodlake Square in Houston
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 5.22 acres and 56.66 acres of land with future development potential.
The retail purchase includes 99,579 s/f of outparcel property, bringing the total area acquired to 939,874 square feet.
The properties are outparcels to four Brookfield owned malls located in CA (3 outparcels at the same mall), AZ, IL, and MI and are a mix of corporate-operated (3) and franchisee-operated (3) locations.