TradeLane Properties has kicked off renovations at one of two industrial sites it recently acquired in Alsip, Illinois. The Oakbrook Terrace-based firm purchased the properties through its U.S. Industrial Fund III L.P., which targets logistics assets across the Central and Southwest U.S.

Berry Plastics Corp. was the previous owner. Colliers brokers Brian Kling and Jake Spinell represented the seller. Upgrades are underway at a 367,000-square-foot vacant manufacturing facility at 5750 W. 118th St., situated on 14 acres, reported the Chicago Business Journal.

Planned improvements include a new roof, paint, paving, landscaping, and office renovations. The building features 24- to 26-foot clear heights, 12 dock-high doors, existing bridge cranes, and 480 parking stalls. The second asset, a fully leased 84,000-square-foot distribution center at 11700 S. Central Ave., includes 4,500 square feet of office space, 15 dock-high doors, and 26 parking stalls.

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