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Otto and Cruise Near Big Office Deals

Self-driving car firms are reigniting demand for office space in San Francisco’s real estate market.

Cruise Automation and Otto, self-driving auto companies each recently acquired by bigger firms, are close to completing some of the largest office lease deals of the year in San Francisco, according to people familiar with the discussions. Both companies are seeking offices of 100,000 square feet or more, many times the size of their current facilities in the city, which are in the 20,000- to 30,000-square-foot range. The larger offices could cost about $7 million a year, given current average costs in the city.

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