427.5 acres located 1.5 miles West of the Dallas North Tollway and less than half a mile North of FM-455. The property is centrally located in the rapid growth corridor between Pilot Point and Celina, within a five-mile radius of over 17,700 proposed residential lots. The subject property consists of two tracts; Tract 1 totals 166.7 acres with 1,503 feet of frontage on Pelzel Road and Tract 2 which totals 200.3 acres with 1,248 feet of frontage on Pelzel Road and 1,615 feet of frontage on Berend Road. The two tracts are connected via a development easement for roads and utilities. Both tracts are outside the city limits of Pilot Point and fall within the boundaries of Pilot Point ISD. Current Denton County thoroughfare plan shows both Pelzel and Berend Road planned as a major arterial roadway with 4 lanes.