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ORLANDO-In what may be a tipoff that a new wave of industrial construction in Central Florida is just around the corner, 50-year-old Southwire Co. of Carrollton, GA is leasing the 98,000-sf Crown Point 11 building at Crownpointe Commerce Park in south Orlando.

Southwire and Crownpointe officials couldn’t be reached at GlobeSt.com’s publication deadline to learn more details on the leasing transaction.

But area brokers, familiar with the south Orlando submarket, tell GlobeSt.com on condition of anonymity the long-term lease is for at least 10 years and has an estimated aggregate value of $4.2 million, based on current average area asking rent of $4.29 per sf.

The lease is one of the largest this year in metro Orlando’s robust 95 million-sf industrial market. Ashley Furniture Industries Inc. of Arcadia, WI leased 141,120 sf for an estimated 10 years earlier this year at 1401 Tradeport Drive, also in south Orlando.

Southwire’s new site is a cross-dock bulk distribution structure, one of the few commercial real estate products that has weathered the economic slowdown this year.

“The Orlando bulk warehouse market has been relatively stable from the demand side, but sublease space has been negating any significant positive absorption so far this year,” John McRae, a senior industrial broker at Trammell Crow Co., Orlando, tells GlobeSt.com.

Third-quarter industrial vacancies are down to 9.3%, a 1% drop from the second quarter, according to a new market analysis by the Orlando office of Grubb & Ellis Co.

Southwire president Stuart Thorn said in a previously prepared statement his company became North America’s largest building wire producer when it bought the manufacturing assets of General Cable Corp. of Highland Heights, Ky in a deal aggregately valued at $114 million on Oct. 31 of this year. The acquired plants are in Kingman, AZ; Watkinsville, GA; and Plano, TX.

Gregg Ickes of Trammell Crow worked with McRae in representing Southwire. Tom McFadden of Carter & Associates-ONCOR negotiated for Crownpoint Commerce Park.

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