After years of ongoing legal issues that led to the subsequent close of Fifth Quarter nightclub, the building located at 210 S. Fifth Avenue will soon become home to the offices of the Oxford Companies, a local property management company.

The 12,000-square-foot building is currently undergoing major renovations to convert the former nightclub into office space, according to Deborah Pearson, the director of leasing and sales for Oxford Companies.

“The building’s been gutted and we’ve put windows in on the first floor,” Pearson said. “The whole first floor has a lot of light and looks like a new space.”

The furnishings of the corporate offices are still in the works, but Pearson said the company — which bought Arch Realty Company in May — should be able to move in no later than Jan. 1. The office space on the second floor will serve as the home to both companies.

“The idea was to both buy the building and be able to put our whole company together there,” Pearson said. “We’re going to put Arch and Oxford in that building so we will all be under one roof, and that’s the plan for the entire second floor of the building and part of the first floor.”

Oxford Companies currently operates out of 312 S. State St. and Arch Realty Company is located at 616 Church St. With the addition of the old Fifth Quarter building, Oxford Companies has a portfolio of about 32 commercial properties, in addition to Arch Realty Company’s residential properties.

The remaining space in the building, about 4,500-square-feet, will be leased out for office use, Pearson said.

According to a report by Swisher Commercial — a Washtenaw County commercial real estate firm — the total market vacancy rate for office space decreased by approximately 1.84 percent in the past year. In addition, leasing demands increased in 2011, making the property increasingly attractive.

The company will use the move as an opportunity to unite the company, and its new subsidiary, under one roof in hopes of bringing life to the vacant building.

Tom Hackett, the owner of the nearby Afternoon Delight restaurant, said he is excited about the change in the building’s tenants.

“They’re very good about keeping things quiet during the day,” Hackett said. “We like having offices there. It’s better than having Fifth Quarter nightclub there.”

Pearson said Oxford Companies — which also owns East Liberty Plaza at East Liberty Street and Fifth Avenue and the building in which Afternoon Delight is located — hopes to improve the overall aesthetics of the property.

“One of the reasons the parcel was attractive to us was that we already own that other parcel on the block,” Pearson said. “By buying this building, we now have that whole segment of the block. We’re investigating what other kinds of ways to use that whole piece of property for the future.”

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