Offline / Local network Team Projects.
Being able to use team projects in an offline / local network environment would be very useful for post houses or mobile editing teams with little to no access to a decent internet connection.
Similar to what Avid can accomplish with it's Nexus system.
Being able to lock your specific sequence if you are working on it would help with conflicts on the sequence happening. If another person tries to edit your sequence a new copied sequence for them to work on should be created, and labeled as required.
An edit assist should be able to ingest from a different machine and the project updates in real time as media is added.
This feature for edit teams working on the same project in a post house or mobile edit unit would speed up production a lot.
Avid projects have this functionality and it is sorely missed in premiere pro.


Team Projects serves a different purpose compared to what you’re describing, it’s designed as a cloud centric workflow with access for users in multiple locations, working in parallel.
What you’re looking for is actually already implemented and available starting with 12.0 (Fall 2017). It’s called shared projects.
Here’s some more info:
https://helpx.adobe.com/premiere-pro/how-to/collaborative-video-editing.html
Cheers,
Patrick
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Daniel Hoover commented
Patrick, you bring up a good point about the difference between Team Projects and Shared Projects.
However, Shared Projects are not a replacement for a true local/offline version of Team Projects.
Currently, Shared Projects do not allow the simultaneous/parallel editing of a single project by multiple users in the same way as Team Projects. Yes, there is bin locking, but it is not as simple as the "push/pull" method of getting changes from Team Projects. Nor do Shared Projects have the simple version control or auto-saving of every action made in the project as Team Projects do.
Team Projects are far superior in many aspects, except for their internet connection requirement.
It is generally safer to run production critical projects on software that isn't dependent on an internet connection. It would be preferred to install a copy of the Adobe Team Projects database server that is currently in the cloud to a local NAS or LAN computer to handle this setup, or at least as a backup in case of an outage.