Jay Paul Eats Sunnyvale Up
Jay Paul will buy 47 acres from Lockheed Martin in Sunnyvale, the San Jose Mercury News reports. The S.F.-based developer is scooping up two parcels from the defense contractor that houses five Lockheed-occupied buildings. In the aging buildings' place will go state-of-the-art office towers. The plan is to get entitlements from Sunnyvale and then tear down the buildings, Jay Paul CIO Matt Lituchy tells the paper. Expect high-end and sizeable product like its 1.8M SF Moffett Towers and 1.9M SF Moffett Place, now under construction as Google's future workstation (above). The new project in Sunnyvale could have 1.7M SF of office and fit 8,500 workers. Jay Paul plans to close on 17 acres by March and the remaining 30 by October, Matt tells the outlet.
