A location place is either a place or a location, just like the kanji it's made from.
This word uses the kun'yomi reading for the first kanji and the on'yomi reading for the second. You haven't learned this reading for 場 yet, so here's a mnemonic to help you:
What is this place you're in? You look around and listen. You hear, "Baa (ば) baa baa!" You must be in a barn!
This is the spot where the corpse was visible from the soil.
Excuse me. Could you tell me the location of a nearby ATM?
Where was the location of your first kiss?