North Idaho commercial real estate market is strong and expected to see continued growth.

"North Idaho has always been a market that draws people and businesses because of the community, the lifestyle, and the environment rather than just chasing baseline employment trends," said Gary Schneidmiller, founder and broker. "It’s an inviting community that naturally attracts long-term investment."

Robert Brickett, chief operations officer and vice-president, said commercial real estate isn't just about moving property, but about building communities. 

"The success of our local businesses is directly tied to the economic health and vibrant future of the entire region," he said.

Mark Johnson, chief executive officer and president, said Coldwell Banker Schneidmiller Realty believes in "the concept of balancing the massive influx of migration and businesses moving from higher-cost regions (like the Pacific Coast) into our area, while ensuring the local infrastructure and 'small-town convenience' of areas like Coeur d'Alene aren't compromised."

Robert Jacobs II, associated broker with Coldwell Banker SchneidMiller Realty, said Kootenai County commercial activity is showing fewer closed transactions year-over-year, but stronger total dollar volume and a broader pricing range. 

Through June 4, closed commercial sales are down from 38 to 30, while sold volume increased from about $27.6 million to $33.4 million. Average sold price moved from about $725,000 to $1.11 million, while the median sold price remained relatively steady, increasing from $367,500 to $379,000. 

'That tells me the market is not necessarily broad-based across every segment, but quality assets and larger transactions are still moving," Jacobs said. "Pending activity also remains meaningful, with 18 commercial listings pending and nearly $19.9 million in list volume, ranging from under $100,000 to $7.2 million.”

Jacobs said he is seeing continued momentum in well-located mixed-use and neighborhood-serving commercial projects. 

He said Millworx in Post Falls is a strong example, with Kindred & Co, Picolos Pizza, Platinum Fitness, the 151-room Hyatt Place Hotel, Glamour Collective, and The Range Butcher/Deli/Market creating real on-site activity this summer. 

The developer is also wrapping up underground parking on Silo Block North, which will add 13,500 square feet of commercial space, six commercial suites, 16 residential units, and 25 below-grade parking stalls, with Barrel 33 announced as the first future tenant.

In Rathdrum, Viking Construction is advancing Westwood Pines Commercial Park on Highway 53, with seven smaller C-2 commercial pads expected to be delivered by the end of summer. The pads range from roughly 0.7 acres to 3.6 acres, and reservations are already underway. 

That site is positioned along the Highway 53 frontage of the new Westwood Pines and Hadley Meadows neighborhoods, with 191 apartment doors under construction and 164 single-family homes nearly sold out. 

"Being just a few blocks from Lakeland High School and Lakeland Middle School, it’s the kind of location that should support neighborhood retail, service, food, and daily-needs commercial users," Jacobs said.

John Nichols, real estate agent with Coldwell Banker Schneidmiller Realty, said many places are experiencing a slowdown in growth due to higher interest rates, construction, and operating costs.

"North Idaho is uniquely positioned as a place that continues to attract businesses, investors, and families due to the state's continued investment in infrastructure and approvals of new homes, allowing values to remain solid but not unattainable," he said.