The typical asking rate per listing is in the $20's per square foot per year. The Magnolia Center region is experiencing a decrease in rates. In the last 3 months, the median rate fell $13 per sqft per year. That's a 37% decline in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Magnolia Center region has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 10 listings have been listed, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,210 sqft. Most buildings in this area are close to 2 floors. Most buildings in this region were built in 1975 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 occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.