On average, listings lease in the $10's per square foot per year. The Magnolia Center submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $17 per sqft per year. That's a 51% decrease in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Magnolia Center region has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 103 listings have come on the market, so you'll want to check back regularly for new listings. About 2% of the available leases in the Magnolia Center are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,460 sqft. Most buildings in this area are close to 2 stories. Most buildings in this area were built in 1978 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Magnolia Center folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Magnolia Center.
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