I once had a desk in an open plan office at the junction of three separate teams who all shared the same floor. I must confess that there was some very distracting 'sharing' of results from two teams to me, being within earshot of lots of conversations.
I also had the 'experience' that the person sat immediately to my right was a heavy smoker. Every now and then he would disappear for 15 or so minutes and return literally stinking of tobacco smoke (sorry for the offence caused to smokers by this revelation, but I'm asthmatic so found this particularly irritating).
Some cross team sharing is not always welcome. Although hearing one of my neighbours say over the phone "don't get on your high horse with me", was a bit startling (he was speaking to his daughter).
On the other hand, every other Friday afternoon I have a conference call with my former colleagues at work, and catch up on all their gripes and worries, which is fun.