Change Location page title

Is it possible to change the title of the Location page? I would rather it read something like Local Racks than Location. My goals are:
1) change the url
from http://website.com/location/
to http://website.com/localracks/
This was successfully done by changing the permalink.

2) change the Title on the page
from Location
to Local Racks
I know this can be done by editing the page in WordPress but have read in numerous places on the site and the forum that we should not be messing with the virtual pages like the Location page.

3) change the browser tab for the Location page
from Location | Website Name
to Local Racks | Website Name
I assume this will automatically happen when the change is made in goal #2 above.

Can I change the title of the Location page?
If not, suggestions?