The big dogs control the fat cat malls in the Golden State.

Friedman, Billings Ramsey & Co. examined 1 billion square feet of U.S. retail real estate to pinpoint the country's top malls. Mallas were evaluated based on market size, market growth and mall quality. The study reveals that not only do large public REITs own most of the mall space in the U.S. (57 percent), they also own 73 percent of the top-rated properties. Of the 14 California malls that earned the firm's designation as a top mall, only four are still in private hands.

Top Malls In California
Mall Name Market Owner Sq. Ft.
Arden Fair Mall Sacramento, Calif. Friedman/Marks (private) 1.13 million
Brea Mall Los Angeles Basin Simon 1.33 million
Fashion Valley San Diego Simon 1.7 million
Galleria at Roseville Sacramento, Calif. Westfield 1 million
Glendale Galleria Los Angeles Basin General Growth 1.3 million
Hillsdale Shopping Center San Francisco Bohannan Development (private) 1.3 million
Mainplace Los Angeles Basin Westfield 1.1 million
South Coast Plaza Los Angeles Basin Segerstrom & Sons (private) 2 million
Stanford Shopping Center San Francisco Simon 1.35 million
Stoneridge Mall San Francisco GM Pension Trust (private) 1.28 million
The Shops at Mission Viejo Los Angeles Basin Simon 1.2 million
UTC San Diego Westfield 1 million
Valley Fair San Francisco Westfield 1.47 million
Village at Corte Madera San Francisco Macerich 430,351