Of course it can!
Do you want to go for it?
That's another question.
Do you see yourself with this man 2 years from now?
If you are unsure, keep it light and flirty.
No need to "fix" things.
Flirt in itself is okay.
If you have been flirting with each other for some time and feel chemistry building up, it will naturally grow into something deeper and more meaningful.
Work place romance is always tricky because if it does not work, you'll feel awkward, having to see each other every day.
It can mess up your performance at work and destroy as well a light friendship.
Don't mix the signals.
Do you want to date the guy or is it just a flirt?
If you are unsure, keep it light and enjoy it for what it is.
The moment you try to fix things and transfer it in a dating context, you might kill the magic and lightness of it.
You'll feel safer on the "teasing and flirty" territory.