A new market report from the Lawrence office of real estate agency Colliers International indicates that the past year was a healthy one for retail, office and industrial activity in Lawrence, but that a lack of industrial inventory is hurting the city’s prospects for growth.

The report, presented by Colliers on Thursday at the Lawrence Arts Center, indicated that there is little to no industrial inventory in Lawrence. There are only 14 vacant industrial spaces, and the year-end industrial vacancy rate for 2016 was 2.3 percent, which the report said presented challenges for new prospects and existing businesses looking to expand.

Three panelists discussed the report at the presentation: Tim Cowden, president and CEO of the Kansas City Area Development Council; Kevin O’Malley, principal and equity agreement manager for O’Malley Beverage; and Daniel Smith, principal and co-owner of Big Industrial LLC.

Cowden said some manufacturing jobs are returning to the U.S. from out of the country, but that there is competition in the region to attract those employers. He said though Lawrence does have VenturePark — a currently vacant business park in eastern Lawrence — the lack of already built space could make the city less competitive.

“We have to have available product to bring these clients into town,” Cowden said. “We had one in just two weeks ago looking out at the VenturePark for property, but we’ve got to have product on the shelf, that’s one common theory.”

Though, that was not to say the city was without its strengths. The completion of the South Lawrence Trafficway and the “livability” of the city — its schools, universities, parks, neighborhoods and proximity to Kansas City — were both touted as attractive features and a boon to the city’s economy.

“I think one of the real strong suits that Lawrence has to offer is the livability aspect,” Smith said. “As we deal with large employers, they have to bring in talented people and management — and you talk about a problem to overcome in some of these more remote areas where you don’t have the amenities of Lawrence.”

Still, having more than just “raw land” for sale was key, Smith said.

“It’s prime to attract some major, major employers if it can get the platform set up,” Smith said.

O’Malley said economic development went hand in hand with keeping up the area’s amenities and addressing needs such as a new police facility and jail expansion.

“Here in Lawrence and Douglas County, we have a pretty high appetite for nice things,” O’Malley said. “… We need to grow the economy, grow jobs and help us fund those wants and needs.”

Still, the overall outlook was said to be positive. The report indicated retail activity and office market were both active last year. The retail vacancy rate was 5.2 percent, an increase of about a percent over the 2015 rate. The office vacancy rate was 7.5 percent, a decrease of about a percent from the 2015 rate.

“2016 was a healthy year, with strong activity in all sectors and we expect that to continue in 2017,” Marilyn Bittenbender, senior vice president of Colliers International of Lawrence, told attendees.