Live Nation to anchor Centennial Yards venue

Zoom in: Brian McGowan, the president of Centennial Yards, told Axios that Atlanta has missed out on touring acts who seek out similar-sized spaces for shows.

• The venue would fit between The Tabernacle (2,200 capacity) and State Farm Arena (roughly 17,000 people).

Driving the news: In addition to the entertainment venue, the district will include COSM, a 70,000 square-foot immersive experience that's like a stepped-down Las Vegas Sphere with dinner and drinks.

• Almost 80% of the fan zone district is already leased, McGowan said.

The big picture: Pro sports teams are diversifying into real estate development to tap additional revenue and have more control over a fan's complete gameday experience.

• CIM Group, the development firm whose subsidiary is building Centennial Yards, is owned by Richard Ressler, the brother of Hawks owner Tony Ressler.

The intrigue: Live Nation owns the Tabernacle and operates Buckhead Theatre and The Coca-Cola Roxy, among other indoor and outdoor venues in metro Atlanta.

• With the addition of a mid-size venue, the company will enjoy even more of an outsized role in programming Atlanta's concert calendar.

What's next: The venue is expected to open in 2027.

• Centennial Yards, which has already opened apartments, a brewery and a rebuilt pedestrian bridge, also has plans for a 304-unit apartment tower called The Mitchell and Hotel Phoenix, a 292-key boutique hotel.