diff --git a/platform/persistence/cache/src/CachingPersistenceDecorator.js b/platform/persistence/cache/src/CachingPersistenceDecorator.js
index 3f2705c428..06e784d928 100644
--- a/platform/persistence/cache/src/CachingPersistenceDecorator.js
+++ b/platform/persistence/cache/src/CachingPersistenceDecorator.js
@@ -21,10 +21,38 @@ define(
             var spaces = CACHE_SPACES || [], // List of spaces to cache
                 cache = {}; // Where objects will be stored
 
+            // Update the cached instance of an object to a new value
+            function replaceValue(valueHolder, newValue) {
+                var v = valueHolder.value;
+
+                // If it's a JS object, we want to replace contents, so that
+                // everybody gets the same instance.
+                if (typeof v === 'object' && v !== null) {
+                    // Only update contents if these are different instances
+                    if (v !== newValue) {
+                        // Clear prior contents
+                        Object.keys(v).forEach(function (k) {
+                            delete v[k];
+                        });
+                        // Shallow-copy contents
+                        Object.keys(newValue).forEach(function (k) {
+                            v[k] = newValue[k];
+                        });
+                    }
+                } else {
+                    // Otherwise, just store the new value
+                    valueHolder.value = newValue;
+                }
+            }
+
             // Place value in the cache for space, if there is one.
             function addToCache(space, key, value) {
                 if (cache[space]) {
-                    cache[space][key] = { value: value };
+                    if (cache[space][key]) {
+                        replaceValue(cache[space][key], value);
+                    } else {
+                        cache[space][key] = { value: value };
+                    }
                 }
             }