I think your are looking for this
declare @strsql varchar(max)
set @strsql = 'The Date Should be between TransactionDate and TransactionDate2'
set @strsql=SPACE(1)+@strsql+SPACE(1)
select Rtrim(Ltrim(replace(@strsql, SPACE(1)+'TransactionDate'+SPACE(1),SPACE(1)+'2014-11-27'+SPACE(1))))