Gregory is also moving chief financial officer David Birdwell into Gunter's COO spot. Vice president and controller Linda Booker has been promoted to vice president and CFO. Mike Salisbury becomes a vice president and controller.

"IDI is continually evolving to maintain our reputation as the leading developer of class A industrial properties," Gregory says in a prepared statement. "These promotions are part of a natural progression at IDI, given Tim's and David's history with IDI, and they will ensure the seamless day-to-day operation of the company throughout the transition."

The new promotions follow the restructuring of the locally based company's development side announced in September 2004. In IDI's accounting department, Ben Engel was promoted to director of real estate accounting.

At the company's recently established Philadelphia regional development office, Gregory named Paul Pontius director of development and David Thomas development manager. Pontius is transferring from IDI's corporate office in Atlanta where he is senior financial analyst. IDI is a shortened version of the company's formal name, Industrial Developments International.