An improved method of rotating the lockrod of a tool storage unit to the “locked” or “unlocked” position by use of a linear actuator to rotate the lockrod actuator, where the linear actuator operates electrically, allowing for control by any remotely or automatically operated system. The tool storage unit locking mechanisms include a center-neutral key position that rotates 90 degrees in either direction from center to lock and unlock the unit. This design allows a standard key to operate the locking mechanism, but also allows a secondary mechanism (such as an electromagnetically driven mechanism) to directly operate the lock. Due to its specifics, the design would also allow for retrofitability.