"They were able to shout to the suspect and make communication with him and at that point they were able to get him to surrender and he was taken into custody."
Police said the suspect had been seen carrying "some bags" into the building and teams were combing the area for possible explosives.
The suspect's car which was found nearby was also being checked for explosives, CNN reported.
The manager of a nearby hair salon, Denise Speller, said she had heard as many as 20 gunshots in under five minutes.
She told a local newspaper she had seen one of two police officers appear to fall to the ground and the other attempt to get the wounded officer behind their police vehicle.
Police had told shoppers at a nearby centre to stay indoors.
In a statement, Planned Parenthood said it was not yet clear "if Planned Parenthood was in fact the target of this attack".
"Our concern is for the safety of our patients, staff and law enforcement," said itsCEO, Vicki Cowart.
Planned Parenthood has been the focus of protests recently after an anti-abortion organisation secretly recorded a Planned Parenthood official discussing how to obtain aborted foetal tissue for medical research.
Pro-life advocates say this proves Planned Parenthood is selling foetal parts for profit - which is illegal - but this is disputed by the organisation.
New York's city police said it had deployed critical response vehicles to Planned Parenthood sites in the city because of the Colorado incident, but said there was no threat in the city.