/pree lees"/ , v. , preleased, preleasing , n.
v.t.
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.
n.
2. a lease on a building, apartment, etc., that is offered or signed before construction has begun.
[ PRE- + LEASE 1 ]