No. Network locations are physical locations, IP Subnets (example below). They can be used for reporting, call routing (Location based Routing and Media Bypass) and emergency purposes. You can't use them to restrict client sign in.
172.11.12.0, 24, "NA:Subnet in Portland", Portland
More information;
https://technet.microsoft.com/en-us/library/gg412933.aspx
http://thamaraw.com