Rhino Capital Advisors LLC has purchased 11.3 acres in Myles Standish Industrial Park for a planned buildout of a 100,000-square-foot building to be leased by industrial company NN Inc.

The purchase price was $1.6 million and construction is expected to conclude next spring.

NN Inc. will use 80,000 square feet of the space for manufacturing and 20,000 square feet for office space. The company said in a statement that the facility will bring 75 to 80 jobs to the Taunton area within three years.

MassDevelopment and Taunton Development Corp. formed a nonprofit development corporation in 2012 to redevelop and expand Myles Standish Industrial Park. The redevelopment of the park created 1,200 new jobs and more than $90 million in private investment in Taunton, MassDevelopment said in a statement.
“NN is experiencing significant growth in our aerospace and defense business, which is driving a need for us to expand our production capacity and technology capabilities,” NN Inc. Executive Vice President of Power Solutions Christopher Qualters said in a statement. “Our new state-of-the-art facility in Taunton will allow us to provide more of our engineered solutions for this rapidly expanding segment of our business. I am especially proud to be growing our business in partnership with the city of Taunton, where my grandfather was a machinist in the brass industry for over 30 years.”