ADDISON, TX-CBRE has brokered a lease renewal for Concentra, a subsidiary of Humana Inc., in Dallas suburb of Addison. The company has occupied the 115,000-square-foot space at Spectrum Center (5080 Spectrum Drive) for 15 years.

“The Far North Dallas submarket rental rates are rising quickly, while vacancy is diminishing,” said John Woolsey, SVP at CBRE. “As other large blocks of space in the market were being leased, Concentra felt it was necessary to lock in their terms before rents rose any further.”

According to CBRE's third quarter MarketView, vacancy is 14.5% in the Far North Dallas submarket and 18.2% in Dallas/Fort Worth.

Woolsey; SVP Warren Willey; first VP Jordan Buis; and first VP Searcy Ferguson, with CBRE in Dallas, represented Concentra. Granite Properties, the owner of Spectrum Center, was represented by Robert Jimenez and Mark Harrison.

CBRE Group, Inc., headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2012 revenue).  The company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide.