10Y UST4.96%-3.31%30Y MTG7.32%-1.08%SOFR3.90%+0.52%VNQ$92.69+0.04%XLRE$42.57+0.12%FED FUNDS3.88%
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The Registry · Industrial

Waterford Property Breaks Ground on 75-Unit Affordable Community at Milpitas’ 1397 California Circle

Via The Registry · September 9, 2026
Compiled by Real Estate Trail Editorial · September 9, 2026

Why this matters

Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.

Editorial analysis · Real Estate Trail Editorial

Excerpt from The Registry:
The Newport Beach developer has started work on a five-story, 75-unit income-restricted building that completes the affordable component of a PulteGroup master plan on a former industrial parcel, in a county where the…
Read the full article at The Registry →

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