BOULDER, Colo. -- A man who was seen menacing people with a machete on the University of Colorado-Boulder campus Wednesday morning is dead after he was shot by police.

The incident began when there was an altercation in the parking lot of the Champions Center -- which houses the university's athletics department -- at around 9:15 a.m., police said during a news conference Wednesday.

The suspect brandished a machete and started menacing people with it. It's unclear if he knew them or if it was a random incident.

At some point, police say he went into the Champions Center, prompting officers from the Boulder Police Department and CU to respond.

They found the suspect shortly thereafter and say he was shot when he failed to follow commands to put down his weapon. He was pronounced dead on the scene.

An all-clear was issued at around 9:40 a.m.

It’s unclear whether the officer who fired at the suspect was with Boulder or campus police.

The suspect has not yet been identified. Authorities couldn't confirm whether or not the man was a CU student.

CU students and staff received a notification saying they should avoid the Champions Center and take safety precautions during the situation.

They were also asked to contact their parents to tell them they are safe.

Business on campus is continuing as usual, though police activity will continue in the Champions Center. Officials say no athletes were injured during the incident, which is being probed by the Boulder County Investigative Team.

The Champions Center is near CU's Folsom Field and houses the football team's locker room, along with other administrative offices.

Police say they'll hold another news conference at 2:30 p.m. We are working to stream it on and will provide updates as they become available.