Macerich(NYSE) MAC

The Macerich Company owns and operates large shopping malls across America. It helps retailers find busy locations to sell their products. The firm also adds apartments and offices to its properties.

What’s in the Portfolio?

• Regional Retail Centers: Large shopping properties in major U.S. markets; includes 38 centers covering approximately 40 million square feet of leasable space.
• Management Services: Operational support for leasing, redevelopment, and property management; provided by seven internal management companies.

Strategic Buying and Selling

• Acquired Crabtree Mall in Raleigh, North Carolina for $290 million on June 23, 2025.
• Purchased Annapolis Mall and an adjacent vacant parcel for $272 million on April 30, 2026.
• Sold various assets including Wilton Mall, SouthPark Mall, and Lakewood Center in 2025 to pay down debt.
• Started redevelopment projects at Scottsdale Fashion Square and Green Acres Mall to add luxury and grocery space.

Building Beyond Traditional Retail

The company integrates non-retail uses like luxury apartments and office buildings directly into its shopping centers. This strategy targets high-density markets to increase shopper traffic and long-term property value.

Vital Signs and Performance

• Adjusted funds from operations reached $192.8 million for the six months ended June 30, 2026, up 8.0% year over year.
• Leased occupancy reached 94.0% on June 30, 2026, representing a 2.0 percentage point increase from June 30, 2025.
• Portfolio tenant sales per square foot were $919 for the 12 months ended June 30, 2026.
• Total outstanding loan indebtedness was $6.3 billion as of June 30, 2026.

Bottom Line

Macerich has moved toward managing a focused portfolio of high-performing properties in major metropolitan areas. The company’s focus on mixed-use redevelopments helps it adapt to changing consumer habits by adding non-retail spaces to its centers.