Complex sentence: While short-lived as a club under the Limelight moniker, it exists to this day as a nightclub; presently, it is the location of both the Excalibur and Vision nightclubs.
Split into simpler sentences: While short-lived as a club under the Limelight moniker, it exists to this day as a nightclub. It currently the location of both the Excalibur and Vision nightclubs.