pre•leasePronunciation: (prē-lēs'), [key]
—v., -leased, -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.
a lease on a building, apartment, etc., that is offered or signed before construction has begun.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.