Macerich is a fully integrated self-managed and self-administered real estate investment trust , which focuses on the acquisition , leasing , management , development and redevelopment of regional malls throughout the United States . The Company is the sole general partner and owns an 87 % ownership interest in The Macerich Partnership , L.P. Macerich now owns approximately 76 million square feet of gross leaseable area consisting primarily of interests in 72 regional malls .