C.R.S. § 24-7-103

(1) Security officers employed and commissioned pursuant to this article that have been designated as peace officers pursuant to section 16-2.5-101 , C.R.S., when operating on state owned or leased property, are hereby granted all the powers conferred by law upon peace officers to carry weapons and to make arrests. (2) When not on state owned or leased property, security officers employed and commissioned pursuant to this article shall not have any authority not possessed by private citizens to arrest, investigate, or carry weapons. This subsection (2) shall not apply to peace officers as described in section 16-2.5-101 , C.R.S.