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A pad site refers to a free-standing parcel located within close proximity to a major commercial complex that is often a retail shopping mall.
Businesses that desire such retail space often need to due to the flexibility of operating hours, more exposure to human traffic, and better branding.
Sometimes referred to as an outparcel, The types of business that rent such space include fast food outlets, banks, convenience stores, etc.
While they are usually situated adjacent to shopping centers, sometimes shopping centers can totally surround them.
Rental rates can be expected to be in a premium.