The coworking sector has put up big numbers, both good and bad, in this economic cycle.

The 86,500-square-foot center, Rockridge Plaza, benefits from proximity to a dense residential population, hotels and office complexes that drive a high volume of traffic through the area.

The goal of the project is to create a unique experience for shoppers and visitors through additional public spaces, walkability, retail, restaurants, entertainment uses and curated mixed use.

The New York City-based real estate investment manager bought the building at 521 Fifth Ave. from SL Green and Plaza Global.