Pad site

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A pad site is a small parcel of land, typically within a larger shopping center site. Pad site sizes vary according to use, but the sites generally range from around 20,000 square feet to 75,000 square feet or more.

A typical pad site location, most often at the front of a major shopping center, provides the user with the benefit of the center's location, access, visibility and customer base. Because of these benefits, pad sites offer a user the greatest opportunity to maximize store sales volumes.

Pad sites are typically purchased or ground leased by users for construction of freestanding buildings for use by casual or quick-serve restaurants, banks or other freestanding single and/or multi-tenant uses. Whether a site is purchased or leased depends on several factors, mainly dictated by the user's financial position and long-term growth strategy.

A ground lease may require a lower up-front cost, but the user is unable to pledge the land as collateral as a part of financing the cost of the building improvements. A purchase requires a larger capital investment on the front end, but at the same time the user has acquired real estate that can be considered an appreciable asset. Either option will provide the user with a location that has exceptional benefits.

Pad Site uses and advantages:

• Pad sites are suitable for Quick-serve restaurants, casual dining restaurants, bank branches and freestanding retailers.

• Pad sites offer users a freestanding identity that creates a destination point out of the building.

• For quick-serve restaurants, banks and similar users, the pad offers convenient drive-through service capabilities. Customers sought

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