Macerich

The Macerich Company
TypePublic
IndustryReal estate investment trust
Founded1964; 62 years ago (1964)
FounderMace Siegel
Richard Cohen
HeadquartersSanta Monica, California, U.S.
Key peopleSteven Hash (chairman of the Board)
Jackson Hsieh (CEO)
Daniel Swanstrom (CFO)
Ann C. Menard (CLO)
RevenueIncrease $918 million (2024)
Increase -$194 million (2024)
Total assetsIncrease $8.567 billion (2024)
Total equityIncrease $2.756 billion (2024)
Number of employees
616 (2024)
Websitewww.macerich.com
Footnotes
Lt.-Gen. Rick Findley, deputy commander of the North American Aerospace Defense Command, and Robert Taylor, senior property manager at Citadel Mall, perform the ceremonial ribbon cutting during the November 18, 2005 launch of the Citadel Mall's Santa Tracking Station.

The Macerich Company (/ˈmeɪsrɪtʃ/ MAYSS-ritch) is an American real estate investment trust that invests in shopping centers. The company is headquartered in Santa Monica, California, and was founded in 1964.

It is the third-largest owner and operator of shopping centers in the United States. As of December 31, 2024, the company owned interests in 43 properties comprising 43 million square feet of leasable area. The company name is a portmanteau of its founders, Mace Siegel and Richard Cohen.

History

The Macerich Company was founded in New York in 1964 by Mace Siegel and Richard Cohen.

In 1994, the company went public with an initial public offering.

In 2002, Macerich acquired Phoenix, Arizona–based Westcor for $1.475 billion. The purchase added 9 properties to Macerich's portfolio making them the largest mall owner in the Phoenix Metropolitan Area.

In 2005, the company acquired most of Rochester, New York-based Wilmorite Properties' portfolio for $2.333 billion, adding 11 shopping centers to Macerich's portfolio, including Tysons Corner Center in Tysons, Virginia.

In 2006, the company rebranded as "Macerich."

On April 1, 2015, the company rejected a $16.8 billion takeover offer from Simon Property Group.

In 2024, Jackson Hsieh took over as CEO of Macerich, succeeding former CEO, Thomas O'Hern. In the same year, the company announced that Daniel Swanstrom would succeed Scott Kingsmore as CFO.

Notable investments

Mall Location Notes
Annapolis Mall Annapolis, Maryland Acquired May 6, 2026 for a reported $260 million
Arrowhead Towne Center Glendale, Arizona Acquired in May 2024 for $36.5 million
Broadway Plaza Walnut Creek, California
Chandler Fashion Center Chandler, Arizona Acquired in 2002
Crabtree Raleigh, North Carolina Acquired in 2025 for $290 million
Danbury Fair Mall Danbury, Connecticut Acquired in 2005
Deptford Mall Deptford Township, New Jersey Acquired in 2006 for $241 million
Desert Sky Mall Phoenix, Arizona
Eastland Mall Evansville, Indiana
Fashion District Philadelphia Philadelphia, Pennsylvania Took majority ownership in 2020 and full ownership in 2023
Fashion Fair Mall Fresno, California
Fashion Outlets of Chicago Rosemont, Illinois Took full ownership in 2014
Fashion Outlets of Niagara Falls Niagara Falls, New York Acquired in 2011 for $200 million
Flatiron Crossing Mall Broomfield, Colorado Acquired full ownership in 2012
Freehold Raceway Mall Freehold Township, New Jersey
Green Acres Mall Valley Stream, New York Acquired in 2013 for $500 million
Inland Center San Bernardino, California Acquired in 2004 with Walton Inland Investors IV
Kierland Commons Phoenix, Arizona
Kings Plaza Brooklyn, New York
La Cumbre Plaza Santa Barbara, California long-term lease through 2077
Los Cerritos Center Cerritos, California
The Mall of Victor Valley Victorville, California
NorthPark Mall Davenport, Iowa
Pacific View Mall Ventura, California
Queens Center Queens, New York
SanTan Village Gilbert, Arizona
Scottsdale Fashion Square Scottsdale, Arizona
South Plains Mall Lubbock, Texas
Stonewood Center Downey, California
Superstition Springs Center Mesa, Arizona
Twenty Ninth Street Boulder, Colorado
Tysons Corner Center Tysons Corner, Virginia
Valley River Center Eugene, Oregon
The Village at Corte Madera Corte Madera, California
Vintage Faire Mall Modesto, California
Washington Square Tigard, Oregon

See also

References

  1. 1 2 "The Macerich Company 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 28, 2025.
  2. 1 2 "Prideful Mall Giant Macerich Burns a Hole in Canadian Teachers' Pension Investor - SWFI". www.swfinstitute.org. Retrieved April 21, 2020.
  3. ↑ "Columbia Alumni Association of Southern California, Inc. - Mace Siegel, Prominent CC/BUS Alumnus, Dies". socal.alumni.columbia.edu. Retrieved October 20, 2026.
  4. ↑ "COMPANY NEWS; MACERICH STOCK RISES SLIGHTLY IN DEBUT". The New York Times. March 11, 1994. ISSN 0362-4331. Retrieved August 12, 2026.
  5. ↑ Edelson, Sharon (April 19, 2018). "Shopping Center Veteran Arthur Coppola to Retire as Macerich CEO". WWD. Retrieved October 8, 2026.
  6. ↑ Padgett, Mike (May 31, 2002). "Westcor sold for $1.5B". American City Business Journals.
  7. ↑ Smith, Ray A. (December 24, 2004). "Macerich to Acquire Wilmorite Properties In $1.45 Billion Deal". The Wall Street Journal.
  8. ↑ "Investing in Macerich: a Must-Know Company Overview". Market Realist. October 15, 2015. Retrieved April 21, 2020.
  9. ↑ Stahl, George (April 1, 2015). "Macerich Rejects Simon Property's $16.8 Billion Takeover Bid". The Wall Street Journal.
  10. ↑ Gara, Antoine (April 1, 2015). "Simon Property Withdraws $95.50 A Share Macerich Takeover Bid". Forbes.
  11. ↑ "Macerich CEO Jackson Hsieh On the Mall Giant's Turnaround". Commercial Observer. December 2, 2025. Retrieved August 26, 2026.
  12. ↑ "New President and CEO at Macerich". www.icsc.com. Retrieved August 26, 2026.
  13. ↑ "Macerich names new CFO". chainstoreage.com. November 6, 2024. Retrieved August 26, 2026.
  14. ↑ "8-K". www.sec.gov. Retrieved August 26, 2026.
  15. ↑ Ng, Greg (May 6, 2026). "National retail real estate owner acquires Maryland mall". WBAL. Retrieved October 8, 2026.
  16. ↑ "Macerich Acquires Super-Regional Annapolis Mall". rli.uk.com. December 5, 2026. Retrieved October 8, 2026.
  17. ↑ "Macerich Buys Out Arrowhead Towne Center, South Plains Mall From JV Partner". FinanzNachrichten.de (in German). Retrieved October 9, 2026.
  18. ↑ "Macerich Executes Strategic Plan with Acquisitions and Asset Diversification". CSIMarket.com. May 16, 2024. Retrieved October 9, 2026.
  19. ↑ Gately, Edward (October 5, 2009). "Chandler mall's owner sells half its stake". East Valley Tribune. Retrieved October 9, 2026.
  20. ↑ "Heitman acquires stake in Macerich malls". PRIVATE REAL ESTATE. January 21, 2013. Retrieved October 9, 2026.
  21. ↑ "Crabtree Valley Mall sold for $290M to California firm". Triangle Business Journal. June 24, 2025. Retrieved October 9, 2026.
  22. ↑ Moss, Linda (June 24, 2025). "Macerich expands to Southeast US with $290 million mall purchase". Costar. Retrieved October 9, 2026.
  23. ↑ "Danbury mall sold in $2.33B deal". Newstimes.com. December 24, 2004. Retrieved October 20, 2026.
  24. ↑ "Real Estate Company Acquires Deptford Mall for 241 Million". njbiz.com. January 9, 2007. Retrieved October 20, 2026.
  25. ↑ "PREIT ceding control of Philly's Fashion District as part of restructuring plan". PhillyVoice. Retrieved October 20, 2026.
  26. ↑ Adelman, Jacob (December 17, 2020). "PREIT loses control of Center City's Fashion District mall to its California-based partner". Inquirer.com. Retrieved October 20, 2026.
  27. ↑ Maidenberg, Micah (November 13, 2014). "Fashion Outlets developer buys out partner for $70 million". Chicago Business. Retrieved October 20, 2026.
  28. ↑ Christmann, Samantha Maziarz (August 2, 2011). "Fashion Outlets sold to California REIT; Macerich pays $200 million to acquire upgraded mall in Town of Niagara". Buffalo News. Retrieved October 20, 2026.
  29. ↑ "FlatIron Crossing mall ownership slice sold for $323 million". The Denver Post. November 6, 2012. Retrieved October 20, 2026.
  30. ↑ "Macerich Acquires New York Malls". Los Angeles Business Journal. October 22, 2012. Retrieved October 22, 2026.
  31. ↑ Bryan, Richard (March 21, 2013). "Correction: Macerich Closes on $500M Acquisition of Green Acres Mall". CoStar.
  32. ↑ "Macerich completes Inland Center buy". L.A. Business First. February 6, 2004. Retrieved October 22, 2026.
  33. ↑ "Macerich, Walton buy Inland Center". Inman. Retrieved October 22, 2026.
  34. ↑ Molina, Joshua (January 3, 2023). "Macy's Will Be Out of La Cumbre Plaza by 2028 as Housing Plans Roil Santa Barbara". Noozhawk. Retrieved January 4, 2023.