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CENTRAL VALLEY, NY-With annual sales of about $1,550 per square foot, or about $1.3 billion per year, Woodbury Common Premium Outlets here outperforms many of even the most successful shopping malls by a two-to-one margin. Beginning in 2016, the 850,000-square-foot Simon Property Group asset could become even more profitable, in part because it will be about 60,000 square feet larger. Simon on Wednesday said it would spend $170 million to give the 27-year-old outlet center its first-ever makeover as well as an expansion.

Since its opening in 1985, Woodbury Common has been expanded three times, and today boasts a slate of retailers that range from Armani and Burberry to the only Tom Ford outlet store in the US. The shopping center REIT’s planned makeover will add 20 new stores, along with architectural and landscape improvements and the integration of new customer amenities, according to a release.

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