The Macerich Company is involved in the acquisition, ownership, development, redevelopment, management, and leasing of regional and community shopping centers located throughout the United States. During the year ended December 31, 2008, the Operating Partnership owned or had an ownership interest in 72 regional shopping centers and 20 community shopping centers aggregating approximately 76 million square feet of gross leasable area. It is a self-administered and self-managed real estate investment trust (REIT), and conducts all of its operations through the Operating Partnership and the Company’s management companies, Macerich Property Management Company, LLC, Macerich Management Company, Westcor Partners, L.L.C., a single member Arizona limited liability company, Macerich Westcor Management LLC, Westcor Partners of Colorado, LLC, MACW Mall Management, Inc. and MACW Property Management, LLC.