Is it acceptable to use a pad mounted transformer in a large (8000 sq ft), well ventilated basement that is used as the parking lot of an office building?
Sure, as long as it is completely enclosed, vented to the outside, and meets the construction specifications of a transformer vault. A PMT is normally filled with mineral oil and is very flammable if it ruptures. The basic answer is no but provisions can be made to install a mineral oil transformer just about anywhere, see Article 450, Part III (starts with Section 450.41).
The phrase ?transformer vault? carries very specific construction requirements, but it is seldom invoked by the code. An indoor transformer that is oil filled requires a vault. An indoor transformer that is dry-type does not require a vault, unless it is rated above 35,000 volts. But you would have seen this, when you read the section that the Other Charlie cited.