Jay Paul picks up first chunk of Lockheed site in Sunnyvale for massive new campus

The Jay Paul Co. has closed on the first of two major land acquisitions from Lockheed that will form the base of its next supersized office campus in Sunnyvale.

The San Francisco-based developer just paid about $70.5 million for the 16.6-acre parcel at 1190 Enterprise Way, according to title documents. I first wrote that a deal was in the works back in January. Still to come: a roughly 30-acre Lockheed-owned parcel just north of this one that Jay Paul is slated to acquire before the end of the year.

The…