DFW Industrial not doing well in 2008

The Dallas Morning News reported that leasing activity on industrial properties is down 60% in comparison to 2007.  Cushman & Wakefield reported that there appears to be a “pullback” as a result of the national economy.  Additionally, it appears that developers have overbuilt and that is also contributing to the downturn.This news is in-that this is the first publication which I have seen that has tied the DFW commercial real estate market to the national economy.  Here-to-for pundits have claimed that Texas and the DFW commercial market will sit out this latest national down turn.