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MURRIETA, CALIF. — SPD Group LLC has broken ground for the construction of Ivy Place Office Condominiums, a two-story, 38,800-square-foot office project located in Murrieta’s historic downtown area. The Class A property is divisible to approximately 1,100 square feet with each floor offering approximately 19,400 square feet. Completion is scheduled for first quarter 2009. Newport Beach, Calif.-based Binnquist Development is serving as general contractor for the project. Steve Malley of Sperry Van Ness is marketing the property.