Need to seperate data in controlled group sizes

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Hello Everyone.
I need to group data in a spreadsheet and limit the sizes of the groups in two ways, size of the group and the number of occurrences of a certain value per group. For example, I need to break the attached spreadsheet into groups of 10K Assets(Column A), but not more than 700 assets from any given location(Column B) per group. What is the most effective way to create these groups?

Please let me know if I need to provide additional info. Thanks!