While San Luis Obispo was busy weighing the pros and cons of a possible Target or an Ernie Dalidio development, Lee & Associates released its commercial real estate update, which showed that vacancy is actually down 33 percent from a year ago.

The commercial vacancy rate for San Luis Obispo County is relatively small at just 5.2 percent.

Representatives of Lee & Associates said the county is holding its own in the commercial department, despite the fact that there are about 500,000 square feet of vacant commercial space from Goleta to San Luis Obispo.

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