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AUSTIN-CIP/Property Management Services Inc. has grabbed the management duties for the first of a planned five buildings in the Wells Point One Business Park in Pflugerville. FM Industries, a contract manufacturer that works with Applied Materials Inc., is the anchor tenant in the 50,000-sf building.

Ken Wheeler, president of CIP/Property Management Services, said the firm looks forward to working with the project. Wells Point One, situated at the intersection of Heatherwilde Boulevard and Olympic Drive, will have a total of 250,000 sf when it is built out. Mark Milstead and Royce Lacey, industrial specialists with NAI/Commercial Industrial Properties Co., are marketing the business park. Larry Parker, president of Satori Inc., is the developer.

The business park is close to Dell Computer Corp., Samsung Austin Semiconductor as well as Applied Materials. Heatherwilde is to be widened to four lanes up to Wells Branch Parkway and an extension from Wells Branch Parkway to Howard Lane also is planned.

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