prelease

[ pree-lees ]
/ priˈlis /

verb (used with object), pre·leased, pre·leas·ing.

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

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

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Origin of prelease

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020