It’s Best Practice to utilize both Batch Check In and Check Out to clear Storage Information

Utilizing the Batch Deployment > Check In > Enable Storage Tracking creates Asset Storage information. 
 

Here is an asset that is currently in storage:

Using batch check out clears the storage location, assigns the device to the student, and updates the status from ‘In Storage’ to ‘In Service’:
 

In order to clear the storage location without using Batch Check Out (regular check in/out or manually assigning from either the asset profile or the user profile) you will need to write a rule or add to an already existing rule for Asset > When Checked Out:

The name of the action item is "Unassign Storage Fields (Location, Unit, & Slot).

The last way I know of to clear the storage information is done using bulk actions utilizing the ‘Set Info’ and then searching for ‘Storage’. You’ll wan to leave all these blank, which will clear the storage data: