The mall developed by Simon Property Group opened in 1988, with anchor stores Dillard's and Sears, in a remote location surrounded mostly by farmland on the Northeast side of the city.

As a result of miscalculated growth projections in the area and a less than ideal location the mall initially struggled.

[2] In 1992 the mall expanded its retail area with a new wing and added a third anchor, Foley's (rebranded as Macy's in 2006).

As the city grew to meet the mall, Rolling Oaks has repositioned itself and is a stable retail center.

Police Chief William McManus released in a statement that after the two suspects fled the store on Sunday, they were accosted by a pair of "good samaritans", at least one of whom was armed using a concealed carry permit.