You bet it can.
Several years ago I asked myself that very question as I was breezing through a dozen beaujolais village crus. So, I put away several duplicates from the 2011 vintage just to see how they would age. Last night I opened one of them: Chateau des Jacques La Roche from Moulin-a-Vent. It was absolutely delicious -- the fruit wasn't as vibrant or as fresh, but the texture and the depth was much better than I had expected from gamay grapes.
Beaujolais can age. But -- isn't there always a "but"? -- not all of them. This single vineyard cru from arguably the best village and from a very reputable producer had a better chance of survival. A simple beaujolais village or one from, say, Fleurie would not have done so well.