Does a 1033 exchange require the use of an intermediary just like a 1031 exchange?

No, you do not need a Qualified Intermediary for a 1033 exchange, and you have a substantially longer time frame in which to acquire your like-kind replacement property depending on the type of 1033 exchange that you are completing. 

Thank you for your response.  So where or how do you "park" the proceeds until you are ready to reinvest?  Can the interest or dividends earned on the proceeds be distributed before the exchange is complete?  Thank you for your help.

There are no requirements to park the 1033 exchange proceeds anywhere.  The taxpayer can take the 1033 exchange proceeds and do anything they want with them.  The funds do not have to be held separate or segregated at all. 

In fact, there is no requirement to reinvest the cash proceeds like there is for the 1031 exchange.  For example, with a 1031 exchange, the taxpayer must reinvest all of the cash proceeds in order to defer all of their tax liabilities, but could "cash out" and not reinvest the cash under a 1033 exchange.  The only requirement with a 1033 exchange is that you trade equal or up in value and the amount of equity (cash proceeds) or debt used to acquire the like-kind replacement property does not matter.