I think you hit the nail on the head and this is really region specific.
There was a mall next to me when I was growing up and it was dingy, just poorly maintained. Then the area became hot, Whole Foods moved in. Then Target. Then a bevy of smaller upscale retailers. Now that dingy mall is unrecognizable and filled to the brim. Not a single vacancy. Not a single open parking spot either.
Malls aren't dying. Some malls are, but that has nothing to do with the mall paradigm and has more to do with the local population. A mall can't get up and move. It's like a tree. It is where it is and it either thrives or dies.
There was a mall next to me when I was growing up and it was dingy, just poorly maintained. Then the area became hot, Whole Foods moved in. Then Target. Then a bevy of smaller upscale retailers. Now that dingy mall is unrecognizable and filled to the brim. Not a single vacancy. Not a single open parking spot either.
Malls aren't dying. Some malls are, but that has nothing to do with the mall paradigm and has more to do with the local population. A mall can't get up and move. It's like a tree. It is where it is and it either thrives or dies.