Retail REIT Simon Property Group, Inc. SPG is aiming at premium acquisitions and transformative redevelopments. Most recently, the company announced that Toronto Premium Outlets, the company’s joint venture with SmartCentres, has unveiled a robust line-up of luxury brands for its 140,000-square-foot expansion.More than 40 stores will be added to this retail destination in Halton Hills, Ontario, because of the expansion, with majority already announcing official launch, and others joining before year end. The move is a strategic fit as it will help Simon Property leverage on the improving spending habits of wealthier customers amid strengthening economy.One of two Simon Premium Outlets Centers in Canada, the Toronto Premium Outlets lures millions of shoppers each year. It has more than 500,000 square feet of retail space that house nearly 130 designer outlets.Specifically, per the company’s press release, Gucci, Montblanc, Prada and Zadig et Voltaire are joining reputed brands like Burberry, Hugo Boss, Jimmy Choo, Stuart Weitzman, and Ted Baker. In addition, as part of the extension, Canadian retailer, Aritzia, opened its first outlet in North America. These apart, the existing ones, like Under Armour UAA, Rudsak and Jimmy Choo, have also refurbished or expanded in this retail center.Besides adding a line-up of luxury brands, this shopping destination has improved its amenities, as well as increased the food offerings by introducing Toronto Premium Outlets' first full-service restaurant, Madisons Restaurant and Bar, situated across Starbucks SBUX on the northwest side of the center. Also, new fast casual and grab-and-go offerings, such as Cultures, Cacao 70, A&W, Real Fruit Bubble Tea and DAVIDsTEA DTEA, will be joining the tenant roster.Furthermore, there have been installations of seven new touch-screen directories for helping customers find their favorite stores, while other improvements, include mobile-phone charging stations, a second Guest Services Centre, an additional children's play area and a refreshed food pavilion.At a time when mall traffic continues to dwindle amid e-commerce boom, with store closures and retailer bankruptcies affecting retail landlords, Simon Property is making immense efforts to boost the value of its retail properties through refurbishments.Ultimately, the aim is to transform retail shopping centers in a way such that these spaces appear as a one-stop destination where people can not only shop, but also entertain and socialize. Eventually, such measures will likely help boost traffic and drive sales. Nevertheless, implementation of such measures requires a decent upfront cost and therefore, would limit any robust growth in its near-term profit margin.Simon Property currently has a Zacks Rank #3 (Hold). The company’s shares have appreciated 3.2% in the past three months as against its industry’s decline of 11.7%.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Today's Stocks from Zacks' Hottest StrategiesIt's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.See Them Free>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Starbucks Corporation (SBUX): Free Stock Analysis Report Under Armour, Inc. (UAA): Free Stock Analysis Report Simon Property Group, Inc. (SPG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research