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I'm glad you reached out to Community for support, nmstaggs.
I'd like to get this sorted out so you can rename location in QuickBooks Online (QBO).
Yes, there is definitely a way we can rename location for a group in QBO. I'd be delighted to walk you through the steps.
I've found a helpful article to know more about renaming a location in QuickBooks Online: Set up and use location tracking.
There you have it. I'll be around for any questions you may have when editing locations in QBO. Happy Thanksgiving day in advance.
This does not allow you to rename unspecified, it only allows you to rename locations you have created.