Dictionary of Business Terms: prelease
prelease
to obtain lease commitments in a building or complex prior to its being available for occupancy. As a requirement for obtaining a permanent mortgage, a developer must often prelease 50% of the space in an office building or shopping center.
Dictionary of Real Estate Terms: prelease
prelease
to obtain lease commitments in a building or complex prior to its being available for occupancy.
Example: As a requirement for obtaining a permanent mortgage, a developer must prelease 50% of the space in the office building.
