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RICHMOND, VA-Plymouth Meeting, PA-based Brandywine Realty Trust has acquired the 142,500-sf Two Paragon Place from New York, NY’s Paracor Co. in a $14.8 million transaction. Asset manager Paracor was acting on behalf of foreign investors Two Paragon Place, Inc. The Class A, six-story structure was developed in 1989 and recently got a $3 million upgrade.

Located at I-64 and West Broad Street, the property sits next door to the 150,500-sf One Paragon Place in western Henrico County’s Paragon Place Office Park. Two Paragon is 100% leased to such tenants as Tattersall Advisory Group, and law firms Taylor & Walker and Mezzullo & Guare.

“Our acquisition of Two Paragon Place is a continuation of Brandywine’s investment strategy to purchase high quality, Class A office properties in our core markets,” Brandywine president and CEO Gerald H. Sweeney says of the transaction. “This acquisition was well below the replacement cost of the building and allows us to increase our market penetration in one of the core investment regional markets.

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