When I first moved here in 2005, the bigger of the two malls in town (Madison Square Mall) had just received a major renovation and was bustling. A few years later (I think this was about 2007) they announced this new major construction project called Bridge Street[0]. It was just about two miles away from Madison Square.
It was essentially an outdoor mall, with all the same stores you would expect to find in any mall. Just outside. Within the last six years, pretty much all the stores that were at Madison Square Mall have relocated to Bridge Street. In fact, Bridge Street just underwent a big expansion so that one of the department stores at Madison Square could move in.
These days, everyone goes to Bridge Street, and Madison Square Mall is mostly empty except for check cashing places, blacklight golf places, and, strangely, a Sears that just hasn't moved yet - which is pretty much the only reason I even go to Madison Square any more at all. There may be one other department store there hanging on too. But other than that it's mostly empty. The escalators were even turned off when I went in there a few weeks ago.
Madison Square Mall was built in the mid 80s, and started going down hill after about 20 years. The other mall in town was built in the late 90s and is still doing "mostly okay" but you can tell Bridge Street hurt them some too. So I figure it's only a matter of time before Bridge Street starts to go down hill and all those same stores move on to whatever the next trend in shopping is.
And, just like Madison Square, leaving a blighted landscape of mostly or completely abandoned buildings in their wake.
They're still building malls. Just calling them different things - "lifestyle centers," "outdoor entertainment complexes," etc. But they're still malls.