The Macerich Company

Macerich owns and operates shopping centers across the United States, mainly in California, the Pacific Northwest, Phoenix, and the corridor from New York to Washington, D.C. The company's portfolio includes about 40 million square feet of retail space spread across 38 shopping centers that serve as gathering places for their communities. As a real estate investment trust (REIT), a structure that allows companies to own and manage real estate while passing income to shareholders, Macerich manages and develops these properties itself rather than hiring outside managers.