Complex sentence: Originally bought as a nightclub space in 1940, the name (and famous sign) were erected in 1946, its Spanish theme (the name meaning "road house") was originally designed to attract tourists visiting post-War Toronto.
Split into simpler sentences: Originally bought as a nightclub space in 1940, the name and famous sign were erected in 1946. Its Spanish theme, the name means "road house", was originally designed to attract tourists visiting post-War Toronto.