In late 1987, the leases of all inline tenants were terminated. The mall was demolished, leaving only the White's anchor store and two outparcels standing. The new RICHLAND FASHION MALL was built in two phases. The first (in dark gray) was dedicated in October 1988. A second phase (in lighter gray) debuted in November 1989.

In a circa-1994 physical layout, the (so-called)  "Lenox Square of the Midlands" has a new anchor store. Little Rock's Dillard's chain expanded a vacant Bonwit Teller and opened for business in 1993. RICHLAND FASHION MALL now encompassed approximately 984,000 leasable square feet.

North Carolina's Belk chain rebranded the mall's center anchor store in September 1998.
Photo from / Mike Kalasnik

In November 1996, the official name of the shopping hub was truncated to RICHLAND MALL. Renovations were completed in 1997 and 1999; the latter relocated the Food Court from the Upper Level to the Lower. The original culinary complex area was gutted and rebuilt into Richland Centre, which housed a Bell Atlantic-Verizon Call Center.