What classification includes shopping centers based on market area and pattern?

The classification that includes shopping centers based on market area and pattern is referred to as shopping center types. This classification groups shopping centers according to various characteristics, including their size, location, and the demographic areas they serve. Shopping center types can be defined by their market reach – such as neighborhood centers, community centers, regional malls, and super-regional malls – each catering to different consumer behaviors and geographic markets.

Understanding shopping center types is crucial for property managers because it influences not only the marketing strategies but also the tenant mix within the center, the types of services and amenities offered, and the overall layout and design. By analyzing the market area and customer patterns, property managers can make informed decisions that align with consumer needs and maximize the center's profitability.

While the other options include relevant factors in property management, they do not directly address the classification based on market area and patterns of shopping centers. The type of tenant focuses more on the businesses that occupy the spaces; location and demographics look at broader patterns affecting multiple aspects of property management; and development and ownership pertain to the physical and financial characteristics of the center rather than its classification.