Net lease glossary
Pad Site
A prepared parcel ready for a single freestanding building, often within or adjacent to a shopping center; frequently used interchangeably with outparcel.
A pad site is a graded, utility-served parcel ready for a single building. The term is often used interchangeably with outparcel, though a pad can also sit within a center's parking field rather than at its edge. Pads may be sold outright, ground leased to a tenant who builds, or developed by the landlord as a build-to-suit. Value depends on visibility, access, traffic counts, and the tenant mix nearby.