This capability is already in the current version of PI Builder (2018 SP2). Here's what you need to do:
1) Assuming you have the list of PI Points of interest, make sure the first column (Selected(x)) has a "x" in it.
2) Select the "Headers" icon from the Excel ribbon and choose the tag attributes that you want. In your example, you would choose instrument tag and location 1-5. You should now see new column headings in your spreadsheet.
3) Select the "Retrieve" icon and instrument tag and location 1-5 would be populated.
