On average, listings lease in the $30's per square foot per year. The Magnolia Center region is going through a a boost in rates. In the last 3 months, the median rate went up $6 per sqft per year. That's a 23% rise in rent.
Compared to the rest of the Metropolitan Los Angeles market, the Magnolia Center submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 12 listings have been made available, which means listings might be 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.
Even though the median size is 2,770 sqft, there are still 0 spaces below 2,000 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 region. 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.