re-lease

American  

[ree-lees] / riˈlis /

verb (used with object)

re-leased, re-leasing

1. to lease again.

2. Law. to make over (land, property, etc.), as to another.

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noun

1. a contract for re-leasing land or property.

2. the land or property re-leased.

Etymology

Origin of re-lease

First recorded in 1820–30; re- + lease ¹

Example Sentences

It’s easy enough to find a new tenant for a simple warehouse but much harder to re-lease a facility purpose-built to Amazon’s exacting specifications.

From Seattle Times

“The debt feature is lease payments you get from the underlying properties, and the equity feature is the right to re-lease or sell those properties.”

From New York Times

Most companies said they expect declines to moderate later in the year as they re-lease space left behind by failed stores, but owners of lower-end properties will be more challenged, according to Busch.

From Seattle Times

“Banks take assets. Once the lease return takes place, they either sell it or they re-lease it. And in this case they have a five-year old asset and they have chosen to sell them.”

From Reuters

The idea was a gradual renovation, allowing tenants to re-lease a few at a time as vacant units were refurbished, Gray said.

From Los Angeles Times