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.)