On average, listings lease in the $20's per square foot per year. The Magnolia Center submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 12% 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 depreciated region.
In the last 90 days, 13 listings have been made available, which means office spaces might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 8% of the listings in the Magnolia Center are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 2,770 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are around 2 floors. Most buildings in this market 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 market. 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.