Both places get good reviews, but I think Magnolia's location might be a little less desireable, both distance and neighborhood. I have never eaten at either one because they seem to usually have Texas oysters, which I do not like. It's a matter of personal taste, of course, but I much prefer FL oysters (not the panhandle). My favorite is east coast oysters (NC/VA), which your friends might be used to. That's what I grew up eating, and like I said, personal taste.
I look forward to hearing what others have to say.
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