Can you upload a screen shot of your layout, taken when it is in layout mode. (browse or preview won't help much)?
You can use the controls below Post A Answer to upload an image file as long as it is one of the listed file types.
Have you pulled up a few of these records where the alignment is wrong and checked the field represented by CCCC in your post for any extra, but invisible characters such as spaces?
Presumably File Location is the field that is showing up in an unexpected location.
Designing a layout like this:
and getting this:
is more typical of issues where you have a block of layout text text containing merge fields like this.
It would be an interesting test to modify the text to put visible characters before and after the SubFile field like this: *<<SubFile>>* I suspect that non printing characters such as tabs and spaces in the subfile field might be causing that field to "wrap" to a second line here.
Once quick fix that you can try is to select the *<<File Location>>* text and cut it to the clipboard. then paste it elsewhere on the layout. Then drag it, now as a separate text object, into the location where you want it on the label.