Prerelease
Definition of "Prerelease"
Securing lease commitments to a building prior to its being available for occupancy. For example, a developer offers a discounted lease to potential tenants providing they agree to sign a lease prior to the completion of the building. A prelease agreement is often required from a mortgagee in order for a developer to obtain a permanent mortgage commitment.
Popular Real Estate Terms
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One-story house with a low pitched roof often having an open floor plan. ...
Geographic area that is attractive to prospective tenants. Square footage in an office building or apartment house that may be rented by a tenant. ...
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A court order on an issue directly related to the immediate action. ...
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