The SHIPPINGADDRESS and BILLINGADDRESS fields in the Template Builder do not merge data as expected and often merge in too much or poorly formatted information.
What To Do
Option 1: Use the SHIPPINGSTREET and BILLINGSTREET fields instead.
Option 2: (Recommended) Use the individual merge fields which provide better control and placement in the Composer document. For example, Shipping Street, Shipping City, Shipping State, Shipping Postal.