The Eastern portion of Cocowalk has begun demolition, where there used to be a Duffys Sport Grill and an abandoned Hooters Restaurant, to make way for a new 5 story class a office called One Cocowalk. The main rotunda, where the second level held a Fat Tuesdays is closed off and will eventually be demolished to create an open courtyard.

Cocowalk was purchased for $87.5 million in May 2015. The new Cocowalk was designed by Beame Architectural Partnership and Foreseer.