prelease

[ pree-lees ]

verb (used with object)

, pre·leased, pre·leas·ing.

1. to sign or grant a lease on (a building, apartment, etc.) in advance of construction:

   Agents have preleased more than 60 percent of the new building.

noun

1. a lease on a building, apartment, etc., that is offered or signed before construction has begun.

Word History and Origins

Origin of prelease¹

pre- + lease ¹