Definition of lease-up:
(n) :
(formal, law) An interest in land granting exclusive use or occupation of real estate for a limited period; a leasehold.
(n) :
The contract or deed under which such an interest is granted.
(n) :
An interest granting exclusive use of any thing, such as a car or boat.
(n) :
The period of such an interest.
(v) :
(transitive, formal, law) To grant a lease as a landlord; to let.
(v) :
(transitive, informal) To hold a lease as a tenant; to rent.