On average, listings lease in the $30's per square foot per year. The Magnolia Center submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $10 per sqft per year. That's a 43% increase in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Magnolia Center submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 10 listings have been posted online, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 20% of the office spaces in the Magnolia Center are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 19,250 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are approximately 2 floors. 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 region. Commute by bike is the most popular way to get to work amongst Magnolia Center residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.