prelease

American  

[pree-lees] / priˈlis /

verb (used with object)

preleased, preleasing

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.

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noun

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

Etymology

Origin of prelease

pre- + lease ¹