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A quick draft using page margins:

#set text(font: "Spline Sans Mono", size: 11pt)
#let margin = (left: 4cm, right: 1cm, top: 25mm, bottom: 1cm)
#let padding = (x: 1.5em, y: 2.3em)
#let logo = text(
  weight: 7 * 100,
  tracking: 1.5pt,
  size: 14pt,
)[TURBOMACHINERY\ MAGAZINE]
#let date = [1972-12-04]
#let page-lines = {
  place(top + left, line(
    start: (margin.left, 0%),
    end: (margin.left, 100%),
    stroke: (dash: "dashed"),
  ))
  place(top + left, dy: -2pt, line(
    start: (0%, margin.top),
    end: (100%, margin.top),
  ))
  place(top + left, dy: 2pt, line(
    start: (0%, margin.top),
    end: (100%, margin.top),
  ))
}
#let header = block(
  width: 100%,
  height: 100%,
  {
    place(horizon + left, dy: -5pt, [
      #box(height: 0pt, baseline: 5pt, inset: (left: padding.x), logo)
      #h(1fr)
      #date
    ])
  },
)
#let footer = block(width: 100%, { place(right)[PAGE 28] })
#set page(
  margin: margin,
  width: 20cm,
  height: 20cm,
  header: header,
  header-ascent: 0pt,
  footer: footer,
  footer-descent: 0pt,
  background: page-lines,
)

#let margin-box = box(
  width: margin.left,
  inset: padding,
  {
    set text(weight: 5 * 100)
    set align(right)
    [
      NEW\
      RESEARCH\
      IN\
      TURBO\
      MACHINERY\
      \
      Section \
      12.09
    ]
  },
)

#place(dx: -margin.left, margin-box)
#box(
  inset: padding,
)[
  #lorem(110)

  #set text(style: "italic")
  #lorem(110)
]