If you are now on v12, you can take the sequences and media up to any other Avid, except for pre-1998 ABVB and NuVista systems. Any modern Avid can create and read Meridien resolutions and projects. You can even go the other way, except that you might use elements/features that the v12 does not know about, and it might choke on those.
One caveat is that if you are taking your stuff FROM the Lanshare TO local storage, you will slightly need to alter the folder structure on the media drives, compared to how they are on the Lanshare.
On a Media Network, the folder structure is:
X:\Avid MediaFiles\OMFI MediaFiles\USER.n\abcde12345.omf
On local storage, the folder structure should be
X:\Avid MediaFiles\OMFI MediaFiles\abcde12345.omf
If the folder structure is different, Avid won’t see the media.