It does not look like Magnolia to me, I wonder if it could be Viburnum tinus which I've heard called "Spring Bouquet Magnolia"? Once the blooms open you will better be able to get an exact ID so I hope you will post photos once those buds are open.
There are a few Viburnum tinus listed in our database:
http://garden.org/plants/searc...
And more info/images for comparison:
http://magnoliagardensnursery....
http://www.mainrom.com/photosh...
More images:
http://www.google.com/search?q...
edited to say, the leaves remind me of shrubs I've seen here in the south but I don't really have a clue. Does Mock Orange (Philadelphus) have compound leaves?
