They aren’t as efficient at generating rent due to their maintenance and upkeep costs, so real estate holdings firms are hell bent on liquidating them, subdividing them, and redeveloping the land piecemeal in ways that better optimize for fine access control and not having to take care of any “dead” non-money-making spaces such as the concourses between the stores. Instead: just parking lots between store fronts.

This is what happened near me. The malls got turned inside out, so it’s just big boxes around a giant parking lot.