The American Red Cross has renewed its New England regional headquarters lease in Dedham, but is downsizing in a big way.

The international aid group currently occupies 212,121 square feet of office space at 100 Rustcraft Road in Dedham.

However, when the organization’s new 15-year lease begins next September, the group will lease just 150,000 square feet, according to information from the Red Cross’ Boston-based landlord The Davis Cos.

The Red Cross has been located in Dedham since the early 1980s. Calls to Davis and the Red Cross were not returned by press time.

"Like many organizations, their operational needs have changed [since the early 1980s]," Cappy Daume, managing director for Davis, said in a statement from the company. "We worked together to ‘right size’ them for the foreseeable future.  Their commitment to remain as a tenant in the building brings stability to the property just six months after its foreclosure, and allows us to focus on executing our business plan with the remaining vacancy."

The Davis Cos. acquired 100 Rustcraft Road on behalf of an affiliate in March 2013, following the foreclosure of a non-performing mortgage loan that firm had purchased earlier in the year. The 493,000-square-foot complex comprises warehouse and single-story office/R&D space and is about 40 percent vacant. In addition to the Red Cross, major tenants include Bank of America and Beth Israel Deaconess Medical Center.