Overview
Macerich is a self-administered, self-managed real estate investment trust focused on owning, operating, leasing, acquiring, redeveloping and selectively developing regional retail centers. Its U.S.-based portfolio includes regional shopping centers and a community/power center, with retail space and, at some properties, adjacent office, hotel and residential uses. The company describes its mission as bringing communities together through thriving retail centers while creating long-term value for shareholders, partners and customers.[1][2][3]
At year-end 2025, the portfolio comprised 38 centers with approximately 39 million square feet of gross leasable area. Macerich reported total assets of approximately $8.52 billion as of June 30, 2026.[4][5] [1][2][3][4][5][3]
Products & services
Macerich’s core offerings are retail-center properties and related leasing and management services. Its regional malls generally exceed 400,000 square feet of gross leasable area (GLA) and typically have two or more department-store or large-retail anchors. Community and power centers generally range from 100,000 to 400,000 square feet; outlet centers typically range from 200,000 to 850,000 square feet and often feature open-air layouts and designer or manufacturer stores. The portfolio also includes freestanding retail space.[6][7]
Services include leasing mall and freestanding space, adjusting tenant mix and store configurations, and selectively providing third-party property-management and leasing services. Macerich also offers short-term retail spaces such as carts, kiosks, temporary inline spaces and pop-ups, alongside brand activations including product demonstrations, launches, sampling and events.[8][9][10][11] Some centers incorporate adjacent office, hotel or residential space; the company also undertakes development and redevelopment projects.[12][13]
For 2025, reported leasing revenue was $950.8 million, or approximately 93.8% of total revenue of $1,014.0 million; management-company revenue was $22.7 million (2.2%) and other revenue was $40.5 million (4.0%). These are revenue categories, not separate property-type shares; Macerich reported one operating segment.[14][15] [6][7][8][9][10][11][12][13][14][15][9][10][11][13]
Geographic presence
Macerich’s 2025 reporting describes a U.S.-only portfolio of 37 regional retail centers across 15 states: Arizona, California, Colorado, Connecticut, Illinois, Indiana, Iowa, New Jersey, New York, North Carolina, North Dakota, Oregon, Pennsylvania, Texas and Virginia. The portfolio includes markets such as Phoenix and Scottsdale, California communities from Santa Barbara and the Bay Area to the Los Angeles area, Portland and Eugene, the New York City area, Philadelphia and New Jersey, Raleigh, and Tysons Corner, Virginia.[16][17]
Company materials characterize its geographic concentration as California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York–Washington, D.C. corridor.[18] The company reports one operating segment; the cited disclosures do not provide revenue percentages or portfolio shares by state or region.[19]
Macerich’s principal executive office is in Santa Monica, California. At December 31, 2025, it reported approximately 598 employees, including 596 full-time and two part-time employees; the cited disclosure does not give an employee breakdown by geography.[20][21] [16][17][18][19][20][21][18]
Business segments
Macerich reports one operating segment: the acquisition, ownership, development, redevelopment, management, and leasing of regional and community/power shopping centers in the United States. Its chief operating decision maker reviews consolidated financial information, rather than results for separately reported business segments.[22][23]
The company reports no separate segment contribution percentages for revenue, assets, or net operating income; the regional and community/power center categories describe its portfolio, not distinct reportable segments.[15][17] [22][23][15][17]
Company history
Mace Siegel and Richard Cohen formed the predecessor MaceRich Real Estate Company in 1964. The Macerich Company was organized in 1993 and completed its initial public offering on March 16, 1994.[24][25][26]
Macerich expanded through major acquisitions, including Westcor in 2002 and Wilmorite Properties and Wilmorite Holdings in 2005. In 2014, it acquired its joint-venture partner’s interests in five malls, raising its ownership of each to 100%.[27][28][29]
After CEO Arthur Coppola’s retirement at the end of 2018, Thomas O’Hern became CEO in January 2019; Jackson Hsieh succeeded him in March 2024. In 2025, Macerich announced its acquisition of Crabtree Mall in Raleigh.[30][31][32][33] [24][25][26][27][28][29][30][31][32][33][24][26][27][28][29][30][31][32][33]
Sources
- MACERICH CO — Full financial report (2025 Y)
- www.macerich.com[3]
- MACERICH CO — Full financial report (2026 Q 2)
- www.macerich.com[9]
- www.macerich.com[10]
- www.macerich.com[11]
- www.macerich.com[13]
- investing.macerich.com[18]
- www.company-histories.com[24]
- investing.macerich.com[26]
- www.sec.gov[27]
- www.sec.gov[28]
- www.prnewswire.com[29]
- www.prnewswire.com[30]
- www.sec.gov[31]
- www.sec.gov[32]
- investing.macerich.com[33]
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