The Macerich Company began in 1964 as MaceRich Real Estate Company, founded by Mace Siegel and Richard Cohen. The company is a real estate investment trust focused on owning, operating, developing, redeveloping, managing, and leasing major retail properties and shopping centers across the United States. Macerich also works on projects that add new uses to selected properties, including hotels, residences, and creative workspaces. The business is known for a portfolio of retail destinations in major U.S. markets and for a model centered on long-term value creation through property operations and redevelopment.